QNB Group Ordinary General Assembly approves financial statements for the year-ended 31 December 2020

Posted on : Sun, 31 Jan 2021

Doha, 31 January 2021- QNB Group, the largest financial institution in the Middle East and Africa, held its Ordinary General Assembly meeting on 31 January, during which it approved the Group's audited financial statements for the year ended 31 December 2020.

The Ordinary General Assembly approved a proposal by the Board of Directors to distribute a cash dividend of 45% of the nominal share value (representing QR 0.45 per share). 
The Board of Directors agreed upon the appointment of KPMG as External Auditors for the year 2021, during the meeting. 

H.E. Ali Shareef Al-Emadi, Chairman of QNB Group's Board of Directors, discussed the Group's financial results of the year ended 31 December 2020, and shared an action plan for the year 2021. 

H.E the Chairman stated, ‘’Due to QNB’s leading position in Qatar, given its leading market share in the banking sector, the Group played a vital role in the implementation of the government’s stimulus package to enhance economic activities such as deferring some loan payments and boosting concessional financing for small and medium-sized enterprises. 

“QNB worked tirelessly to accommodate to the new reality. We protected the bank from potential risks and service disruptions. At the same time, we assumed our market-leading role by supporting our customers and communities where we operate to overcome these challenges’’, he added.

For the year ended 31 December 2020, the Group delivered a net profit of QR12.0 billion. Total assets exceeded QR1.0 trillion, up by 9% from last year.

QNB Group’s presence through its subsidiaries and associate companies extends to more than 31 countries across three continents providing a comprehensive range of advanced products and services. The total number of employees is more than 28,000 serving 20 million customers operating through 1000 locations, with an ATM network of more than 4,300 machines.