Qatar National Bank (QNB) announced Tuesday its financial results for the year ending on December 31, 2014. The bank achieved profits of QR10.5 billion, a 10.3% increase compared with the results of 2013.
The Board of Directors, according to a statement released by the bank, recommended to the General Assembly the distribution of a cash dividend of 75% of the nominal share value (QAR7.5 per share). The profit distribution is subject to Qatar Central Bank (QCB) approval, as are the financial results of 2014.
Total assets increased by 9.7% from December 2013 to reach QR486 billion , the highest ever achieved by the Group. Total Equity increased by 7.9% from December 2013 to reach QR58 billion as at 31 December 2014. Earnings per Share reached QR14.9, compared to QR13.5 in December 2013. The Group was able to maintain the ratio of non-performing loans to gross loans at 1.6%. The Group’s conservative policy in regard to provisioning continued with the coverage ratio reaching 124% in December 2014.
Source : Qatar News Agency
