Qatar National Bank (Q.P.S.C.) (QNBK) investor relations material

Executive summary

• Net profit for the nine months ended September 2025 reached QAR 13.08 billion ($3.52 billion), up 1% year-over-year, with adjusted growth of 9% excluding new global minimum taxes effective in 2025.

• Total assets increased 9% year-over-year to QAR 1.389 trillion ($381.6 billion), with loans and advances up 11% to QAR 1 trillion ($274.8 billion).

• Customer deposits grew 6% to QAR 962.6 billion ($264.4 billion), maintaining a stable regulatory loan-to-deposit ratio of 97%.

• Maintains #1 position in Middle East and Africa by assets, loans, deposits, and net profit, with a market cap of $47.1B and brand value up 11% to $9.4B.

• Digital banking expansion advanced with new licenses in Egypt and Saudi Arabia, and the spin-off of Enpara in Turkey.

Financial highlights

• Operating income rose 9% to QAR 33.3 billion ($9.14 billion), with net interest income at QAR 26.46 billion.

• Cost-to-income ratio remained strong at 23.3%, among the best in the region.

• NPL ratio stable at 2.9% (Group), with 100.2% coverage; sector NPLs at 3.9%.

• Capital adequacy ratio at 19.5%, well above regulatory requirements.

• Buyback program ongoing, with 119.1 million shares repurchased at a cost of QAR 2.01 billion.

Outlook and guidance

• Loan growth guidance for 2025 upgraded to 8–10%, deposit growth guidance maintained at 5–7%.

• Profitability growth before payroll taxes expected at 10–12%, and 1–3% after taxes.

• International operations' profit share rose to 36% of total, with 49% growth in profit from 2023 to 2025.

• Cost of risk projected at 85–90 basis points; group NIM expected at 260–265 basis points.

• Profitability growth for 2026 expected in mid-single digits under base case assumptions.