Qatar National Bank raised provisions and remains on alert – ArabianBusiness.com

Qatar National Bank raised provisions and remains on alert – ArabianBusiness.com

Qatar National Bank QPSC braced for credit losses by boosting the amount of money set aside in provisions and signaled caution over the main international markets where it has a presence.

The Middle East’s biggest bank booked 7.1 billion riyals ($1.9 billion) in loan-loss provisions during 2021, up 21 percent from the previous year, according to a statement on Tuesday. Total assets rose about 7 percent to 1.1 trillion riyals.

The Doha-based bank said it “remains cautious on the external environment with respect to potential risks that may arise from key markets where QNB Group operates.”