The Commercial Bank (CBQK) investor relations material

Executive summary

• 9M net profit was QAR 1,539.4m, down 13.8% YoY; before Pillar Two tax, profit was QAR 1,644.1m, down 15.9%.

• Net operating income rose 2.9% to QAR 3,568.3m, while higher provisions and expenses weighed on profit.

• 2026–2030 strategy execution focused on disciplined growth, prudent risk and cost management, customer relationships, digital capabilities and legacy-book cleanup.

Financial highlights

• Net interest income rose 10.2% to QAR 2,800.1m; net fee and commission income fell 5.8% to QAR 692.5m, but rose 11.4% excluding one-offs.

• Operating profit was QAR 2,415.1m, down 0.3%; net provisions rose 62.5% to QAR 979.8m, while associates’ results increased 8.8% to QAR 323.2m.

• Operating expenses increased 10.1% to QAR 1,153m; reported cost increases included investment in staff, technology, digital and AI.

• Loans excluding acceptances rose 6.3% to QAR 100.7bn; customer deposits fell 3.0% to QAR 83.1bn. Total assets were QAR 183.6bn, down 4.4%.

• Investment securities rose 5.1% to QAR 41.3bn; low-cost deposits increased 3.6% to QAR 31.4bn, or 37.8% of customer deposits.

Outlook and guidance

• 2026 targets include cost-to-income below 30%, net cost of risk of 90–100 bps, CET1 of 12.0%–13.0% and CAR of 17.5%–18.5%.

• 2030 targets include ROE above 11% (above 12% before Pillar Two), cost-to-income below 27%, net cost of risk of 70–90 bps and Stage 3 coverage above 70%.

• Positive jaws are expected from 2027; priorities include selective higher-return lending, transaction banking, legacy exposure workouts and digital and AI investment.

• NIM is expected near 2.2% for the rest of 2026, with potential 5–10 bps downward pressure from deposit competition and debt refinancing.