QNB first quarter profit rises to $1.2bn despite regional conflict

Qatar National Bank (QNB), the largest lender by assets in the Middle East and Africa, said its net profit and operating income for the first quarter of 2026 rose despite geopolitical tensions and global uncertainty. 

Net profit reached QR4.3 billion ($1.2 billion) in the quarter ended March, a 2 percent year-on-year increase, the lender said in a statement. 

Operating income increased by 10 percent annually to QAR12 billion. Net interest income stood at QR9.4 billion in the first quarter, compared to QR8.7 billion a year ago. 

The cost-to-income ratio stood at 24.1 percent, which the lender considered “one of the best ratios among large financial institutions in the Middle East and Africa region”. 

Total assets increased by 6 percent year-on-year to QAR1.4 trillion.

The capital adequacy ratio remained strong at 19.4 percent, above regulatory requirements in spite of the regional conflict.

Loans and advances rose 8 percent year-on-year to more than QR1 trillion. Customer deposits also increased by 5 percent annually to QAR974 billion by the end of March.

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The ratio of non-performing loans to gross loans reached 2.7 percent as of March 31, 2026, which is “one of the lowest among financial institutions in the MEA region”.

Despite the Iran war, Qatar’s banking system remained robust and resilient, the statement said.

QNB reopened all its branches on March 24.

The lender’s shares closed 0.28 percent lower at QR17.80. The stock is up nearly 1 percent so far this year.