Qatar National Bank (QNB) delivered a strong growth across the range of its activities both domestically and internationally which positively contributed to its profitability that surpassed QR2.7 billion, Yousef Hussein Kamal, the bank's chairman of the Board of Directors, said on Tuesday. For the six months ended 30 June 2010, net profit reached QR2.7 billion, up 30.8 percent on the net profit delivered in June 2009. Total assets grew since June 2009 to QR186.0 billion, representing an increase of QR38.9 billion, or 26.5 percent. Loans and advances and financing activities grew to QR117.6 billion, representing an increase of QR34.7 billion, or 41.9 percent. Customer deposits and unrestricted investment accounts also increased by QR36.4 billion (35.4 percent) during the period to reach QR139.2 billion. Net operating income increased by QR797.7 million (29.2 percent) to exceed QR3.5 billion. This was mainly due to the increase in net interest income and income from financing activities of QR792.2 million (44.7 percent) to reach QR2.6 billion. Net fees and commission income grew by QR89.5 million (18.7 percent) to QR567.6 million. Net gains from foreign currency transactions increased by QR24.8 million (16.3 percent) to reach QR176.6 million. Total equity attributable to the Bank shareholders grew since June 2009 to QR21.1 billion, representing an increase of QR3.4 billion, or 19.0 percent. QNB Al Islami also succeeded in achieving excellent results during the first half of 2010, with net profit increasing by 140 percent to reach QR443.2 million. Financing activities increased by QR15.8 billion (203 percent) since June 2009 to reach QR23.5 billion. QNB Al Islami total assets increased 106 percent at QR29.2 billion.
