The banking sector across the GCC has demonstrated formidable growth and profitability, with Qatar leading in several key performance indicators, say KPMG, Fitch reports.
QNB net profits up 8% in 2023
The QNB Group posted a net profit of $4.25 billion.
Qatar National Bank forecasts world economic growth to be 2.9% in 2024
Doha, Qatar--Qatar National Bank (QNB) expects the global economic growth to be around 2.9 percent in 2024, roughly the same rate as last year. QNB, in its weekly commentary, said, "There is no doubt that expectations for 2024 were influenced by the experience of investor sentiment from 2023, when negative...Qatar National Bank foresees recession in US economy
Doha, Qatar--Qatar National Bank (QNB) Group foresees a recession in the US economy during the upcoming 12 months, pointing out that the US economy continues to demonstrate its resilience despite significant headwinds from high inflation, tighter financial conditions, and an uncertain global environment. In its weekly commentary, QNB added that...QNB H1 2023 net profit at $2bn
QNB set aside $1.3 billion as provision for loan losses.
Former Qatar finance minister charged with bribery, money laundering, corruption
DOHA, QATAR - Qatari prosecutors have charged former finance minister Ali Sharif Al-Emadi with bribery, money laundering and a range of corruption charges, the state news agency said Sunday. Al-Emadi, 54, was arrested in May 2021 when he was one of the most influential business executives in the Middle East. He...
US Fed Reserve may remain hawkish in coming months
Despite the recent slowdown, the US economy remains robust, which allows for more aggressive monetary policy tightening. The US consumer is particularly healthy, with households presenting a strong balance sheet with high levels of cash available (US$15.8 trillion), the report adds.Growth likely to vary across regions and geographies
While the global economy has been slowing down, the picture looks very different across regions and geographies. This is based on the expectation that inflation will moderate, supply chain constraints ease and geopolitical conflicts do not worsen, a report by Qatar National Bank has highlighted.
QNB sees global economy recovering, despite bottlenecks
The bank said it was confident that the global bottlenecks would continue to improve over the coming year. ‘We expect this to reduce the pressure currently being felt by global central banks, enabling them to keep interest rates lower for longer,’ it said.Qatar National Bank posts 8 percent jump in net profit to $2.83bn in 9 months of 2021
Qatar National Bank (QNB), the Gulf's biggest lender, posted an 8 percent increase in nine-month net profit to $2.83 billion, citing loan growth.
