QNB financial results for the year ended 31 december 2022

QNB financial results for the year ended 31 december 2022

DOHA, Qatar /PRNewswire/ -- QNB, one of the largest financial institution in the Middle East and Africa (MEA) region, announced that the Board of Directors, during its meeting held today has approved its results for the year ended 31 December 2022.

Net Profit before the impact of hyperinflation for the year ended 31 December 2022 reached QAR16.1 billion (USD4.4 billion), an increase of 22% compared to the same period last year. QNB Group successfully managed the negative impact arising from hyperinflation in Turkey, thereby net profit after the impact of hyperinflation reached QAR14.3 billion (USD3.9 billion), an increase of 9% compared to same period last year.

The Board of Directors of QNB Group have recommended to the General Assembly the distribution of a cash dividend of 60% of the nominal share value (QAR0.60 per share) after taking into account of the solid financial performance recorded by QNB for the year ended 31 December 2022. The annual financial results for 2022 along with the proposed profit distribution are subject to Qatar Central Bank (QCB) approval.

Operating Income increased by 24% to reach QAR35.1 billion (USD9.6 billion) which reflects the Group's continued successful efforts in maintaining growth across a range of revenue sources.

Total Assets reached