QNB, one of the leading banks in the Middle East, Africa and Southeast Asia 
(MEASEA) region, announced its results for the three months ended 31 March 2019.

(Photo - https://mma.prnewswire.com/media/808498/QNB_Group_Head_Office.jpg)   

For the three months ended 31 March 2019, Net Profit reached QAR3.6 billion 
(USD0.98 billion), up by 4% compared to previous year, despite the impact of 
the Turkish Lira devaluation. Total assets increased to QAR882 billion (USD242 
billion), up by 6% from March 2018, the highest ever achieved by the Group.

The key driver of total assets growth was from loans and advances which grew by 
5% to reach QAR623 billion (USD171 billion). This was mainly funded by customer 
deposits which increased by 5% to reach QAR634 billion (USD174 billion) as at 
31 March 2019. The growth of the Group assets and liabilities has been partly 
affected by the devaluation in the Turkish Lira. Despite the devaluation 
impact, QNB's strong asset liability management capabilities helped QNB Group 
to improve its loans to deposits ratio to 98.3% as at 31 March 2019. 
QNB Group's robust cost controls helped to improve the efficiency ratio (cost 
to income ratio) to 25.9%, from 27.8% last year, which is considered one of the 
best ratios among large financial institutions in the MEA region.

The ratio of non-performing loans to gross loans amounted to 1.9% as at 31 
March 2019, a level considered one of the lowest amongst financial institutions 
in the MEA region, reflecting the high quality of the Group's loan book and the 
effective management of credit risk. The Group's conservative policy in regard 
to provisioning resulted in the coverage ratio of 106% as at 31 March 2019.
Group Capital Adequacy Ratio (CAR) as at 31 March 2019 amounted to 18.5%, 
higher than the regulatory minimum requirements of the Qatar Central Bank and 
Basel Committee. 

During the first quarter of 2019, QNB successfully closed the syndication of 
its EUR2.0 billion three year senior unsecured term loan facility which is a 
testament to QNB's strong credit profile. The Group also announced the 
successful completion of a US$1.0 billion bond issuance under its Euro Medium 
Term Note (EMTN) Programme in the international capital markets, maturing in 5 
years with an attractive fixed rate coupon of 3.5% per annum. 

These issuances attracted strong interest around the world by key global 
investors, reflecting investors' confidence in QNB Group's financial strength 
and its position as the largest financial institution in the Middle East and 
Africa region. It also reflects their high confidence in QNB Group's strategy 
over the coming years.

QNB Group serves a customer base of 24 million supported by 30,000 staff 
resources operating from more than 1,100 locations and 4,400 ATMs.

SOURCE: QNB Group