Qatar National Bank (Q.P.S.C.) (QNBK) Q3 2025 earnings summary

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 the impact of new global minimum taxes effective in 2025.

• Operating income rose 9% to QAR 33.3 billion ($9.14 billion), supported by broad-based revenue growth and strong cost control.

• 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 963 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 $47.1 billion.

Financial highlights

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

• Non-performing loan (NPL) ratio stable at 2.9%, with a 100.2% coverage ratio on stage three loans.

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

• Return on equity (ROE) for the sector at 14.9%.

• Earnings per share (basic and diluted) for nine months was QR 1.31, up from QR 1.28 year-over-year.

Outlook and guidance

• Loan growth guidance for 2025 upgraded to 8%-10%, deposit growth 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.

• No change to profit before tax guidance for 2025 despite upgraded loan growth, as late-year growth will not materially impact current year profitability.

• The Group is evaluating the impact of new IFRS standards effective in 2026 and beyond.