QNB RAIS­ING MORE LOANS

Qatar Na­tional Bank is rais­ing a $1 bil­lion, three-year syn­di­cated loan in the Asian bank mar­ket, ac­cord­ing to Reuters.

Qatar Today - - BUSINESS BANK NOTES -

The lender ap­proached banks for the new loan fi­nanc­ing in mid-De­cem­ber, ask­ing them to com­mit size­able tick­ets rang­ing be­tween $100 mil­lion and $300 mil­lion, Reuters said, quot­ing a source. Agri­cul­tural Bank of China (of which Qatar In­vest­ment Au­thor­ity is a corner­stone in­vestor) has a lead­ing role in the new loan, the sources said. QNB is not new to the in­ter­na­tional loan mar­ket and has pre­vi­ously raised large debt fa­cil­i­ties in both US dol­lars and eu­ros, on the ba­sis of its strong fi­nan­cial per­for­mance.

For the twelve months ended De­cem­ber 31, 2016, QNB's net profit reached QR12.4 bil­lion ($3.4 bil­lion), up by 10% from last year. To­tal as­sets reached QR720 bil­lion ($198 bil­lion), up by 34% from De­cem­ber 2015, the best ab­so­lute re­sults in QNB Group's his­tory. The growth in as­sets was driven by loans and ad­vances which grew by 34% to reach QR520 bil­lion ($143 bil­lion). At the same time QNB Group in­creased its customer fund­ing by 28% to QR507 bil­lion ($139 bil­lion). This led to the Group's loans to deposit ra­tio reach­ing 103%. The Group was also able to main­tain the ra­tio of non-per­form­ing loans to gross loans at 1.8%.

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