Awards for Excellence country winners: Qatar
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Awards for Excellence country winners: Qatar

Best bank: Qatar National Bank

Qatar National Bank (QNB)’s scale and banking power in the country seem unassailable across all banking businesses. It dominates activity, reporting more assets ($338 billion), loans ($234 billion), deposits ($235 billion) and net profit at the end of last year than that generated in each segment by all four of the other largest banks combined.

Net profit hit $4.26 billion in 2023 – up 8% on the year before and a five-year high – on operating income of $10.75 billion (up 11%), and net interest income of $8.36 billion (up 5%).

Such growth comes with tightly managed cost controls (QNB has a cost-to-income ratio of 20%), a manageable non-performing loan ratio (3% of gross loans at the end of last year), and a robust capital position (19.8% capital adequacy ratio).

In addition, QNB generated a return on average assets of 1.3%

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