QNB Group announces significant growth for 2016

Financial reports released by QNB Group, the largest bank in the Middle East and Africa, show a substantial growth over the same period during the previous year.

QNB Group released the results for the nine month time span of 2016 ending Sept. 30. The company recorded a net profit of $2.7 billion (9.7 billion Qatari riyals), resulting in an increase of 11 percent over 2015.

The bank’s assets skyrocketed 37 percent from September 2015, leading to a growth of $196 billion, which is the highest number ever recorded by QNB Group.

During the noted time period, QNB Group completed an acquisition of a partnership share of 99.88 percent of Finansbank, Turkey.

The original, legally valid announcement from QNB Bank was released in Italian. Translations of the document, like this one, are cross referenced for accuracy but are provided for convenience, not as an original source text.