Outstripping our expectations
QNB released its FY2016 financial statements, revealing a remarkable improvement compared to 2015. The group’s NBI reported a 44% y-o-y surge lifted by a 40.3% rise in interest margin to QAR17.887bn and by a 54% jump in net fees and commissions to QAR3.453bn. The NBI totaled QAR22.6bn vs. QAR15.9bn in 2015. Interest margin was responsible for 87% of the bank’s NBI. QNB’s FY2016 bottom line increased only by 9.5% to reach QAR12.4bn due to higher operating expenses, which almost doubled.
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