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