Always shinning
QNB released its 1Q2017 financial statements. The group’s NBI reported a 32.2% increase on a y-o-y basis. A surge lifted by a 27% rise in interest margin to QAR4.17bn and by a 60.4% jump in net fees and commissions to QAR864.1m. The NBI totaled QAR5.19bn vs. QAR3.9bn in Q1 2016. Interest margin was responsible for 80.4% of the bank’s NBI. QNB’s FY2016 bottom line increased only by 11.5% to reach QAR3.2bn due to higher operating expenses and cost of risk.
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