Qatar National Bank (QNB), the biggest Gulf bank by assets, on Thursday reported an 8% rise in full-year net profit to 15.5 billion riyals ($4.14 billion), citing a “robust and consistent performance”.
Net profit attributable to QNB’s equity holders in the fourth quarter was 3.6 billion riyals, according to Reuters’ calculations, up from around 3.3 billion a year earlier.
Gulf banks have benefited from higher interest rates in the wake of the US Federal Reserve’s moves to increase borrowing costs to combat inflation.
QNB proposed a dividend of 0.65 riyals per share, the bank said in a statement.—Zawya
