QNB nine-month profit rises 4% to QAR13.3bn

QNB nine-month profit rose 4% to QAR13.3 billion (USD3.7 billion) in the period to 30 September 2026, the Doha-based lender said on Thursday, as operating income grew at twice that pace.

QNB net profit before the impact of hyperinflation accounting was QAR16.4 billion (USD4.5 billion), up 8% from the same period of 2025, the group said in a results statement published on 8 October. Operating income also increased 8%, to QAR36 billion (USD9.9 billion).

Earnings per share came in at QAR1.37 (USD0.38). Figures posted on the Qatar Stock Exchange website, as reported by local media, put the comparable number a year earlier at QAR1.31 and showed net profit of QAR13.317 billion against QAR12.829 billion.

QNB nine-month profit: the key numbers

Total assets stood at QAR1,464 billion (USD402 billion) at the end of September, 5% higher than a year earlier, according to the bank. Loans and advances grew 6% to QAR1,061 billion (USD291 billion).

Customer deposits rose more slowly, gaining 2% to QAR979 billion (USD269 billion). Total equity increased 10% to QAR134 billion (USD37 billion).

The cost-to-income ratio was 24.3%, which QNB described as one of the best among large financial institutions in the Middle East and Africa. Non-performing loans were 2.7% of gross loans, with loan loss coverage at 97%.

The capital adequacy ratio was 19.7%. The liquidity coverage ratio stood at 145% and the net stable funding ratio at 108%, both above the minimum requirements of the Qatar Central Bank and Basel III, the bank said.

Third-quarter growth and asset quality

Reuters, reporting on the QNB Group results, put third-quarter net profit at QAR4.65 billion (USD1.28 billion), compared with QAR4.43 billion a year earlier. That is growth of roughly 5%, slightly ahead of the pace for the nine months as a whole.

QNB nine-month profit growth of 4% also compares with a 3% increase at the half-year stage, when the bank reported net profit of QAR8.7 billion, according to Qatar Tribune.

Some indicators have softened since mid-year. At the end of June, QNB reported a non-performing loan ratio of 2.5%, loan loss coverage of 99% and a cost-to-income ratio of 24.1%, Qatar Tribune reported at the time.

The gap between reported profit and profit before hyperinflation remains wide, at about QAR3.1 billion for the nine months. QNB did not break down the adjustment by market in its statement.

Group Chief Executive Officer Abdulla Mubarak Al Khalifa said the group’s international presence and customer relationships allow it to support companies as they invest and grow, according to local media reports of his comments. He said QNB would stay focused on sustainable returns for shareholders in the final quarter.

Why the results matter for Gulf investors

The numbers arrive at a difficult moment for regional markets. Qatar’s benchmark index fell 2.2% to 9,006 on Thursday, its lowest level since June 2020, and QNB shares dropped 2.9% before the results were released after the close, Reuters reported.

Most Gulf bourses ended lower that day as attacks on tankers in the Strait of Hormuz intensified, the news agency said. Reuters describes QNB as the Gulf’s largest lender, making it the heaviest weight in the Qatar banking sector.

The bank has worked against that backdrop for most of the year. In its first-quarter statement, QNB said regional hostilities since 28 February 2026 had affected maritime routes, energy supply and shipping, and that its business continuity framework had kept services running.

The Qatar Central Bank responded at the time with measures including unlimited riyal repo facilities and a 100 basis point cut in reserve requirements, QNB said in that statement. Banks were also allowed to offer temporary payment deferrals.

For investors, the QNB nine-month profit figures show a lender that is still expanding its loan book and holding capital and liquidity above regulatory minimums. Deposit growth of 2% lagged loan growth of 6%, and the non-performing loan ratio was higher than at mid-year.

QNB operates in more than 28 countries across three continents, with about 900 locations and more than 31,000 staff, according to its first-quarter statement. More background is available in Outlook Middle East’s profile of QNB Group and in our banking and financial services coverage.

The bank did not give a date for its full-year results in the statement. Its 2025 annual figures were published in January.