QNB Group Reports H1 2026 Results: Net Profit Rises 3% to QR8.7 Billion Amid Landmark Bond Issuance

QNB Group (Qatar National Bank) has reported its financial results for the first six months of 2026: net profit rose 3% year-on-year to QR8.7 billion, confirming the resilience of the group's performance despite global headwinds. Operating income grew 11% to QR24.1 billion, earnings per share reached QR0.89, total equity increased 10% to QR130 billion, and the Capital Adequacy Ratio stood at 19.8%, comfortably above regulatory minimums.

Modern glass financial-district towers overlooking Doha waterfront

Key figures for the first half of 2026

Net profit: QR8.7 billion, up 3% year-on-year.
Net profit before the impact of hyperinflation in Turkey: QR11.1 billion, up 12% year-on-year.
Operating income: QR24.1 billion, up 11%.
Earnings per share: QR0.89, up 5% from June 2025.
Total equity: QR130 billion, up 10%.
Efficiency (cost-to-income) ratio: 24.1%, among the best ratios of large financial institutions in the MEA region.

Balance sheet: assets, loans and deposits

Total assets for H1 2026 reached QR1,438 billion, an increase of 6% year-on-year, driven mainly by growth in loans and advances of 8% to QR1,042 billion. Customer deposits increased by 4% from June 30, 2025 to QR973 billion, supported by the successful diversification of deposit generation across the group's network.

Hyperinflation in Turkey and adjusted profit

Persistent hyperinflation in Turkey continued to affect reported results for the period. Before the impact of hyperinflation, net profit for the six months ended June 30, 2026 reached QR11.1 billion, an increase of 12% year-on-year, which the group presents as evidence of the underlying strength of its diversified business model.

Capital, liquidity and asset quality

The Capital Adequacy Ratio (CAR) for H1 2026 amounted to 19.8%. The Liquidity Coverage Ratio (LCR) and the Net Stable Funding Ratio (NSFR) stood at 145% and 109% respectively, above the regulatory minimum requirements of the Qatar Central Bank and the Basel III reforms. The ratio of non-performing loans to gross loans stood at 2.5%, one of the lowest among financial institutions in the MEA region, while the loan loss coverage ratio reached 99%, reflecting a prudent approach to credit risk.

Landmark bond issuance and Qatar's capital markets

The group broadened its funding base through a landmark issuance of a QR1.0 billion bond, the largest-ever local currency issuance by a Qatari financial institution to international investors. Strong demand from a diversified base of international investors underscored confidence in both the group and Qatar's financial markets. Together with several private placements under its EMTN Programme, the issuance contributes to the development of Qatar's capital markets in line with the goals of the Qatar National Vision 2030.

Share repurchase programme

The strong capital position enabled the continuation of the share repurchase programme as a disciplined return of capital to shareholders. Since the programme's inception in 2024, QNB has repurchased 136.3 million ordinary shares at a total cost of QR2.3 billion.

Strategy, management comment and outlook

The first-half performance validates the group's five-year corporate strategy, focused on strengthening its position as a leading financial institution in the MEA region. Looking ahead, QNB intends to leverage its international network across the Middle East, Africa, Asia and Europe to capture a larger share of cross-border trade and investment flows, while diversifying income streams and driving sustainable growth in the world's most dynamic markets.

Management comment

"QNB Group has delivered another strong set of results in the first half of 2026, a testament to the soundness of our strategy and the successful execution by our dedicated team," said Abdulla Mubarak al-Khalifa, Group Chief Executive Officer of QNB. He added that, while the regional and global environment presented challenges, the group's diversified business model and robust risk management framework enabled it to continue supporting customers and delivering sustainable value for shareholders.