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QNB Group announces strong 2024 results, cash dividend proposal
(MENAFN) QNB Group, one of the largest financial institutions in the Middle East and Africa (MEA), has reported a solid financial performance for the year ending December 31, 2024. The Group’s Board of Directors approved the results during their meeting held yesterday.
The Board has proposed a cash dividend of 37 percent of the nominal share value (QR0.37 per share) for the second half of 2024, bringing the total dividend distribution for the year to 70 percent of the nominal share value (QR0.70 per share), taking into account the record net profit achieved by QNB Group.
The proposed profit distribution, along with the annual financial results, is subject to approval by the Qatar Central Bank (QCB) and the General Assembly.
QNB Group reported a net profit of QR16.7 billion (USD4.6 billion) for 2024, marking an 8 percent increase compared to the previous year. Operating income rose by 6 percent to QR41.3 billion (USD11.4 billion), driven by strong growth across various revenue streams.
The Board has proposed a cash dividend of 37 percent of the nominal share value (QR0.37 per share) for the second half of 2024, bringing the total dividend distribution for the year to 70 percent of the nominal share value (QR0.70 per share), taking into account the record net profit achieved by QNB Group.
The proposed profit distribution, along with the annual financial results, is subject to approval by the Qatar Central Bank (QCB) and the General Assembly.
QNB Group reported a net profit of QR16.7 billion (USD4.6 billion) for 2024, marking an 8 percent increase compared to the previous year. Operating income rose by 6 percent to QR41.3 billion (USD11.4 billion), driven by strong growth across various revenue streams.
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