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QNB Group Grows Net Profit by 6% to $3b in Q3

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By Dipo Olowookere

Largest financial institution in the Middle East and Africa (MEA) region, QNB Group, has recorded a net profit of QAR10.8 billion ($3 billion) for the nine months ended September 30, 2018.

According to the financial results of the lender, the rise in the net profit is a 6 percent increase when compared with the same period last year, despite the impact of the Turkish Lira devaluation.

Total assets increased to QAR853 billion ($234 billion), up by 8 percent from September 2017.

It was disclosed that the key driver of total assets growth was from loans and advances which grew by 4 percent to reach QAR604 billion ($166 billion).

This was mainly funded by customer deposits which increased by 7 percent to reach QAR615 billion ($169 billion) from September 2017. The growth of the Group assets and liabilities has been partly affected by the devaluation in the Turkish Lira.

Despite the devaluation impact, QNB’s strong asset liability management capabilities helped QNB Group to improve its loans to deposits ratio to 98.3 percent as at September 30, 2018.

The Group’s drive for operational efficiency is yielding cost-savings in addition to sustainable revenue generating sources, enabling the Group to improve the efficiency ratio (cost to income ratio) to 26 percent, from 29 percent last year, which is considered one of the best ratios among large financial institutions in the MEA region.

Robust credit quality is underpinned by non-performing loans ratio of 1.8 percent as at September 30, 2018, a level considered one of the lowest amongst financial institutions in the MEA region. The Group’s conservative policy in regard to provisioning resulted in the coverage ratio at 106 percent as at September 30, 2018.

Capital Adequacy Ratio (CAR) as at September 30, 2018 amounted to 15.6 percent, higher than the regulatory minimum requirements of the Qatar Central Bank and Basel Committee. Currency headwinds in our core markets had limited impact on the CAR.

QNB’s successful funding from the international markets during the year which includes, amongst others, (1) capital market issuances of $560 million (AUD700 million) with a 5 and 10-year maturity in Australia and (2) $720 million bonds with 30 year maturity in Taiwan.

This reflects the Group’s success in diversifying funding sources by entering new debt markets, sourcing sustainable long-term funding, extending the maturity profile of funding sources and the trust of international investors in the strong financial position of QNB Group and its strategy.

During the year, Fitch Ratings and Moody’s have revised the Outlook to Stable due to successful management of the impact from the blockade. Also QNB remains the highest-rated bank in Qatar and one of the highest-rated banks in the world from the major rating agencies of Moody’s, Standard & Poor’s and Fitch Ratings.

QNB Group serves a customer base of more than 23 million customers with more than 29,000 staff resources operating from more than 1,200 locations and 4,300 ATMs.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

Banking

Standard Bank Hosts 2nd African Markets Conference

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standard bank African Markets Conference

By Modupe Gbadeyanka

The second African Markets Conference (AMC) will take place in Cape Town, South Africa, from Sunday, February to Tuesday, February 24, 2026.

The event, hosted by Standard Bank, will bring together global institutional investors, sovereign wealth funds, and African policymakers to catalyse the flow of capital into the continent’s most critical sectors.

The theme for this year’s edition is Mobilising Global Capital at Scale for Africa’s Growth and Development.

AMC 2026 will host a high-level delegation of decision-makers, ensuring that the dialogue leads to tangible commitments.

The conference will be structured around five high-impact pillars designed to move the needle on investment, including prioritising infrastructure as an asset class, accelerating the energy transition, deepening African capital markets and mobilising private capital, enabling intra-African trade and flows of capital, and addressing Africa’s sovereign debt and cost sustainability.

It is estimated that by 2050, Africa will add one billion people, more than half in cities, yet it invests only $75 billion of the $150 billion it needs annually for infrastructure. Standard Bank aims to use AMC 2026 to ensure that African priorities remain at the centre of the global financial discourse.

“This year’s engagement bridges the gap between policy ambitions and market realities. Africa urgently needs practical measures to deepen capital pools, improve market liquidity, and strengthen regulatory frameworks that give investors the confidence to deploy capital at scale.

“Mobilising capital is not just about funding projects; it is about building the foundation of a more balanced and inclusive global economy,” the chief executive of Corporate and Investment Banking at Standard Bank Group, Luvuyo Masinda, stated.

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Banking

Fidelity Bank Shows Love to Ikoyi Correctional Centre Inmates

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Fidelity Bank Ikoyi Correctional Centre

By Aduragbemi Omiyale

Inmates at the Ikoyi Correctional Centre in Lagos were recently full of joy when Fidelity Bank Plc donated some relief items to them.

The financial institution, through its Corporate Social Responsibility (CSR) initiative known as Fidelity Helping Hands Programme (FHHP), handed over various household tools and gift items to the leadership of the correctional facility as part of its efforts to support the rehabilitation and development of indigent persons in society.

The Chief Human Resources Officer of Fidelity Bank, Mr Charles Nwachukwu, reaffirmed the bank’s deep commitment to transforming lives and restoring hope, emphasising that true progress lies not only in financial growth but in extending compassion and opportunity to those that society often overlooks.

“At Fidelity Bank, we believe that every individual deserves a second chance. Our approach to Corporate Social Responsibility is rooted in empathy, standing with communities, uplifting the vulnerable, and opening doors for brighter futures.

“By supporting inmates today, we are setting them on the true path of rehabilitation, empowering them to return tomorrow as productive and confident members of society,” the banker said.

The Deputy Controller of Corrections at Ikoyi Custodial Centre, Mr Julius Ogueri, who could not hide his excitement over the gesture, appealed to Nigerians to avoid cybercrimes and stigmatisation of ex-inmates.

Highlighting the challenges faced by correctional facilities in Nigeria, Mr Ogueri noted that Ikoyi correctional center initially designed for 800 inmates, now houses over 3,000 inmates, with 396 convicted persons and 3,604 awaiting trial.

Whilst thanking the bank, the Deputy Controller also emphasised the importance of rehabilitation, citing examples of inmates who have pursued education and skills acquisition, including 72 inmates studying with the National Open University of Nigeria and 120 inmates who have benefited from WAEC and GCE support.

Business Post reports that through the FHHP, staff across Fidelity Bank branches nationwide identify crucial interventions needed in their immediate community and raise funds to execute them. The bank’s management then matches this contribution with an equal amount and disburses it for the selected project.

The visit to the Ikoyi Correctional Centre reinforces the lender’s unwavering commitment to meaningful community impact and demonstrates its strong dedication to advancing social responsibility and rehabilitation efforts across the society.

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Banking

Ecobank Nigeria Introduces Business App for SMEs to Accelerate Growth

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ecobank Business App

By Dipo Olowookere

A new digital banking platform created to help business owners in the country to eliminate delays, queues, and operational inefficiencies has been introduced by Ecobank Nigeria.

This mobile application is to strengthen the growth and sustainability of Small and Medium Enterprises (SMEs) across Nigeria, allowing them to manage payments, monitor transactions, oversee cash flow, and run day‑to‑day financial operations directly from their mobile devices.

The Ecobank Business app, now available on the Google Play Store and Apple App Store, cements the bank’s position as a dependable growth partner to SMEs across all sectors, delivering tools that help businesses manage better, grow faster, and operate more competitively in a digital economy. – Ecobank Business — Your Growth Partner.

The introduction of this initiative further reinforces Ecobank’s broader commitment to empowering SMEs through digital innovation, sector‑specific value propositions, and financial solutions like structured loans, trade support, guarantees, and equipment financing.

It also aligns with the lender’s push to re-energise dormant SME accounts, deepen market penetration, promote digital adoption, and scale value‑chain financing through partnerships with corporate anchors.

According to the Executive Director for Consumer and Commercial Bank at Ecobank Nigeria, Mr Kola Adeleke, the Ecobank Business App was developed to address the unique challenges faced by Nigeria’s diverse SME landscape.

Speaking at the unveiling in Lagos, he explained that the platform caters to traders, retailers, tech start-ups, online businesses, hospitality operators, farmers, agro‑processors, manufacturers, construction firms, professionals, social commerce entrepreneurs, schools, associations, and organisations that require transparent and efficient financial management.

Mr Adeleke noted that the app delivers faster payment collection for merchants and retailers, seamless digital transactions for online businesses, efficient vendor and staff management for hospitality players, timely payment solutions for agriculture value chains, and secure handling of bulk and high‑value transactions for manufacturers and construction firms.

He added that professionals such as lawyers and consultants can issue invoices and receive payments easily, while schools and associations can streamline fees, dues, and reporting from a single platform.

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