It achieved growth of 7.7% during 2023
28.5 billion riyals in profits from banking sector companies on the stock exchange
QNB accounts for 54% of the sector’s total profits
Lisha Bank has the best growth in profits by 25%
2:00 AM, Saturday, March 23, 2024
Doha – Mahmoud Abdel Halim:
Banking and financial services sector companies listed on the Qatar Stock Exchange achieved total profits amounting to 28.47 billion riyals during the year 2023, compared to 26.4 billion riyals in the year 2022, with a growth rate of 7.7%. QNB topped the profits of sector companies in terms of value, as it accounted for 54% of the total value of profits. While Lisha Bank was the best company in the sector in terms of profit growth of 25%, followed by the National Bank with a growth rate of 8.4%, and the International Islamic Bank with a growth rate of 8.3%. There is only one company left, which is Qatar and Oman Investment, which has not yet disclosed its results.
According to the announced results, QNB Group’s net profits for the year ending December 31, 2023 amounted to 15.5 billion riyals (4.3 billion US dollars), an increase of 8%, compared to the previous year. Operating income also increased by 11% to reach 39.1 billion riyals (10.7 billion US dollars), which reflects QNB Group’s success in maintaining strong and sustainable growth across various sources of income.
Qatar Islamic Bank (the bank) achieved net profits attributable to shareholders’ equity amounting to 4,305 million riyals for the fiscal year 2023, compared to 4,005 million riyals for the year 2022, an increase of 7.5%.
The Commercial Bank announced net profits of 3,010.2 million Qatari riyals, compared to net profits of 2,811.1 million Qatari riyals, for the same period in 2022.
The National Bank announced a net profit of 837 million Qatari riyals for the year ending in 2023, compared to the same period in 2022 at a value of 772 million Qatari riyals, an increase of 8.4%.
The International Islamic Bank also achieved a net profit of 1.16 billion riyals, a growth rate of 8.3%, compared to the year 2022, and the earnings per share amounted to 0.7 riyals.
Doha Bank’s net profits for the year 2023 amounted to “769” million Qatari riyals, compared to 765 million Qatari riyals for the previous year, an increase of 0.5%.
Dukhan Bank achieved net profits of 1.3 billion Qatari riyals, a growth rate of 4%, compared to the same period of the previous year.
Masraf Al Rayan announced achieving net profits for the benefit of shareholders amounting to 1,452 million riyals. Masraf Al Rayan also achieved an operating income of 3.5 billion Qatari riyals during the year, thanks to diversified revenue sources, through financing, investments, fees, and foreign exchange activities.
Lisha Bank’s net profit amounted to about 94.4 million riyals, compared to a net profit of 75.47 million riyals for the same period of the previous year.
Earnings per share reached 0.084 Qatari riyals in the annual year of December 31, 2023 , compared to earnings per share of 0.078 Qatari ryals for the same period of the previous year.
Enmaa’s profits amounted to 10.3 million riyals, compared to a net profit of 9.82 million riyals for the year 2022.
The net profits of Dlala Brokerage and Investment Holding Company amounted to 2.1 million riyals during the year 2023. The profits of the National Leasing Holding Company amounted to 15.4 million riyals, compared to 19.1 million riyals in the year 2022.
