Posted on February 09, 2020

QNB Group held its Ordinary General Assembly Meeting on 9 February, during which it approved the Group's audited financial statementsfor the year ended 31 December 2019. The Ordinary General Assembly approvedaproposal by the Board of Directors to distribute a cash dividend of 60% of the nominal share value (representing QR0.6 per share).

During the meeting, the General Assembly approved the appointment of KPMG as External Auditors for the year 2020. During the meeting, H.E. Ali Shareef Al-Emadi, Chairman of QNB Group's Board of Directors, presented an overview of the Group's activities and financial results of the year ended 31 December 2019, and shared the action plan for 2020 aimed at enhancing the Bank’s leading position in the banking sector. H.E the Chairman stated,“Our ongoing success has been driven by robust governance, a clear strategy, solid risk management and disciplined execution, and we will continue to improve our business, embedding aculture of transparency, accountability, and collaboration.’’ ‘’This is underpinned by our strict adherence to good governance across our network’’, he explained.

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‘’The rapid pace of innovation and digital transformation is forcing the banking sector to change and evolve. The Group truly believes that innovation is a keycomponent to realise its vision tobecome one of the leading banks in MEASEA, not only helping drivegreater value, but also ensuring thatits business is fit and ready for thefuture. The launch of our global innovation centre this year should help us to capitalise on those initiatives in the future’’, H.E. added.

H.E. the Chairman also said that the Group was able to deliver outstanding financial results during 2019 in all its local and international operations while continuing to pursue a wise policy andeffective risk management. QNB Group delivered record financial results for the year ended 31 December 2019, with net profit reaching QAR14.4 billion, up by 4% compared to same period last year. Total assets increased by 10% to reach QAR945 billion. QNB Group’s presence spans more than 31 countries through more than 1,100 locations, 4,300 ATMs supported by 29,000 staff.

(Click here to read the Chairman's statement)

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