Earnings release
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Interim Condensed Consolidated Financial Statements 30 September 2025
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INDEPENDENT AUDITOR'S REPORT ON REVIEW OF INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS TO THE BOARD OF DIRECTORS OF QATAR NATIONAL BANK (Q.P.S.C.) Introduction We have reviewed the accompanying interim condensed consolidated financial statements of Qatar National Bank (Q.P.S.C.) (the “Bank”) and its subsidiaries (together referred to as the “Group”) as at 30 September 2025, comprising of the interim consolidated statement of financial position as at 30 September 2025, the related interim consolidated statements of income and comprehensive income for the three and nine month periods then ended, the related interim consolidated statement of changes in equity and interim consolidated statement of cash flows for the nine-month period then ended, and the related explanatory notes. The Board of Directors is responsible for the preparation and presentation of these interim condensed consolidated financial statements in accordance with IAS 34 Interim Financial Reporting (“IAS 34”). Our responsibility is to express a conclusion on these interim condensed consolidated financial statements based on our review. Scope of review We conducted our review in accordance with International Standard on Review Engagements 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim condensed consolidated financial statements are not prepared, in all material respects, in accordance with IAS 34. Ziad Nader of Ernst & Young Auditor’s Registration No: 258 Date: 7 October 2025 Doha
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Qatar National Bank (Q.P.S.C.) Interim Consolidated Statement of Income For the Three and Nine Month Period Ended 30 September 2025 Three Months to Three Months to Nine Months to Nine Months to 30 September 30 September 30 September 30 September 2025 2024 2025 2024 (Reviewed) (Reviewed) (Reviewed) (Reviewed) QR000 QR000 QR000 QR000 Interest Income 32,110,332 32,493,160 93,479,240 92,838,670 Interest Expense (22,909,853) (24,254,008) (67,014,860) (68,788,434) Net Interest Income 9,200,479 8,239,152 26,464,380 24,050,236 Fees and Commission Income 2,466,453 2,128,826 6,992,923 5,959,010 Fees and Commission Expense (1,181,834) (964,637) (3,272,418) (2,585,861) Net Fees and Commission Income 1,284,619 1,164,189 3,720,505 3,373,149 Net Foreign Exchange Gain 553,185 597,812 1,806,248 2,215,666 Income from Investment Securities 246,550 104,233 587,696 276,689 Other Operating Income 43,610 89,858 214,394 133,009 Operating Income 11,328,443 10,195,244 32,793,223 30,048,749 Staff Expenses (1,390,505) (1,239,390) (4,035,182) (3,655,193) Depreciation (269,217) (224,644) (742,059) (615,278) Other Expenses (1,078,706) (876,436) (2,964,574) (2,570,602) Net ECL / Impairment Losses on Loans and Advances to Customers (2,128,937) (1,728,376) (6,549,859) (5,248,814) Net ECL / Impairment (Losses) / Recoveries on Investment Securities (1,576) 819 31,036 (10,649) Net ECL / Impairment (Losses) / Recoveries on Other Financial Instruments (15,832) (1,373) 16,459 (245,384) Amortisation of Intangible Assets (13,524) (67,727) (43,304) (147,728) Other Provisions (30,555) (10,281) (75,180) (29,781) (4,928,852) (4,147,408) (14,362,663) (12,523,429) Share of Results of Associates 186,892 166,086 482,190 429,678 Profit Before Net Monetary Loss Arising from Hyperinflation and Income Taxes 6,586,483 6,213,922 18,912,750 17,954,998 Net Monetary Loss Arising from Hyperinflation (813,758) (928,505) (2,326,824) (2,992,339) Profit for the Period Before Income Taxes 5,772,725 5,285,417 16,585,926 14,962,659 Income Tax (note 12) (1,255,312) (680,162) (3,504,734) (2,078,452) Profit for the Period 4,517,413 4,605,255 13,081,192 12,884,207 Attributable to: Equity Holders of the Bank 4,428,739 4,549,128 12,829,561 12,710,944 Non - Controlling Interests 88,674 56,127 251,631 173,263 Profit for the Period 4,517,413 4,605,255 13,081,192 12,884,207 Earnings Per Share (QR) (Basic and Diluted) (note 13) 0.45 0.46 1.31 1.28 The attached notes 1 to 15 form an integral part of these interim condensed consolidated financial statements.
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Qatar National Bank (Q.P.S.C.) Interim Consolidated Statement of Comprehensive Income For the Three and Nine Month Period Ended 30 September 2025 Three Months to Three Months to Nine Months to Nine Months to 30 September 30 September 30 September 30 September 2025 2024 2025 2024 (Reviewed) (Reviewed) (Reviewed) (Reviewed) QR000 QR000 QR000 QR000 Profit for the Period 4,517,413 4,605,255 13,081,192 12,884,207 Other Comprehensive (Loss) / Income Items that are or may be Reclassified to Consolidated Income Statement in Subsequent Periods: Foreign Currency Translation Differences for Foreign Operations (5,483) (120,981) (472,941) (4,233,883) Share of Other Comprehensive Income of Associates 214,502 (120,360) 316,029 (300,109) Effective Portion of Changes in Fair Value of Cash Flow Hedges (115,834) 493,987 390,456 301,728 Effective Portion of Changes in Fair Value of Net Investment in Foreign Operations - (51,251) - 36,848 Investments in Debt Instruments Measured at FVOCI Net Change in Fair Value 322,775 45,691 466,041 70,838 Net Amount Transferred to Income Statement (76,146) (8,922) (206,236) (16,389) Other Comprehensive (Loss) / Income Items that will not be Reclassified to Consolidated Income Statement: Net Change in Fair Value of Investments in Equity Instruments Designated at FVOCI (34,391) 109,608 47,108 46,732 Effects of Hyperinflation 633,455 910,286 1,710,179 2,951,360 Total Other Comprehensive Income / (Loss) for the Period, net of Income Taxes 938,878 1,258,058 2,250,636 (1,142,875) Total Comprehensive Income for the Period 5,456,291 5,863,313 15,331,828 11,741,332 Attributable to: Equity Holders of the Bank 5,352,560 5,802,140 15,039,807 11,702,579 Non - Controlling Interests 103,731 61,173 292,021 38,753 Total Comprehensive Income for the Period 5,456,291 5,863,313 15,331,828 11,741,332 The attached notes 1 to 15 form an integral part of these interim condensed consolidated financial statements.
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Qatar National Bank (Q.P.S.C.) Interim Consolidated Statement of Changes in Equity For the Nine Month Period Ended 30 September 2025 Issued Treasury Legal Risk Fair Value Foreign Other Retained Equity Non Instruments Total Capital Shares Reserve Reserve Reserve Currency Reserves Earnings Attributable to Controlling Eligible for Translation Equity Holders Interests Additional Reserve of the Bank Tier 1 Capital QR000 QR000 QR000 QR000 QR000 QR000 QR000 QR000 QR000 QR000 QR000 QR000 Balance at 1 January 2025 9,236,429 (660,730) 25,326,037 13,000,000 (1,203,198) (30,217,047) (1,116,210) 78,179,864 92,545,145 1,239,901 20,000,000 113,785,046 Total Comprehensive Income for the Period Profit for the Period - - - - - - - 12,829,561 12,829,561 251,631 - 13,081,192 Other Comprehensive Income - - - - 695,005 1,199,086 316,155 - 2,210,246 40,390 - 2,250,636 Total Comprehensive Income for the Period - - - - 695,005 1,199,086 316,155 12,829,561 15,039,807 292,021 - 15,331,828 Transactions with Equity Holders, Recognised Directly in Equity Final Dividend for the Year 2024 (note 7) - - - - - - - (3,391,575) (3,391,575) - - (3,391,575) Interim Dividend for the Year 2025 (note 7) - - - - - - - (3,191,380) (3,191,380) - - (3,191,380) Shares repurchased - (1,349,833) - - - - - - (1,349,833) - - (1,349,833) Other Movements - - - - - - - (96,558) (96,558) (22,847) - (119,405) Total Transactions Recognised Directly in Equity - (1,349,833) - - - - - (6,679,513) (8,029,346) (22,847) - (8,052,193) Balance at 30 September 2025 9,236,429 (2,010,563) 25,326,037 13,000,000 (508,193) (29,017,961) (800,055) 84,329,912 99,555,606 1,509,075 20,000,000 121,064,681 Balance at 1 January 2024 9,236,429 - 25,326,037 12,000,000 (587,777) (29,157,890) (820,506) 73,102,343 89,098,636 1,108,458 20,000,000 110,207,094 Total Comprehensive Income for the Period Profit for the Period - - - - - - - 12,710,944 12,710,944 173,263 - 12,884,207 Other Comprehensive Income / (Loss) - - - - 434,273 (1,142,689) (299,949) - (1,008,365) (134,510) - (1,142,875) Total Comprehensive Income / (Loss) for the Period - - - - 434,273 (1,142,689) (299,949) 12,710,944 11,702,579 38,753 - 11,741,332 Reclassification of Net Change in Fair Value of Equity Instruments upon Derecognition - - - - 38 - - (38) - - - - Transactions with Equity Holders, Recognised Directly in Equity Dividend for the Year 2023 (note 7) - - - - - - - (6,003,679) (6,003,679) - - (6,003,679) Interim Dividend for the Year 2024 (note 7) - - - - - - - (3,048,021) (3,048,021) - (3,048,021) Other Movements - - - - - - - (141,183) (141,183) 37,399 - (103,784) Total Transactions Recognised Directly in Equity - - - - - - - (9,192,883) (9,192,883) 37,399 - (9,155,484) Balance at 30 September 2024 9,236,429 - 25,326,037 12,000,000 (153,466) (30,300,579) (1,120,455) 76,620,366 91,608,332 1,184,610 20,000,000 112,792,942 The attached notes 1 to 15 form an integral part of these interim condensed consolidated financial statements. Equity Attributable to Equity Holders of the Bank
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Qatar National Bank (Q.P.S.C.) Interim Consolidated Statement of Cash Flows For the Nine Month Period Ended 30 September 2025 Note Nine Months to Nine Months to Year to 30 September 30 September 31 December 2025 2024 2024 (Reviewed) (Reviewed) (Audited) QR000 QR000 QR000 Cash Flows from Operating Activities Profit Before Income Taxes 16,585,926 14,962,659 19,766,518 Adjustments for: Interest Income (93,479,240) (92,838,670) (125,322,712) Interest Expense 67,014,860 68,788,434 92,503,393 Depreciation 742,059 615,278 831,935 Net ECL / Impairment Losses on Loans and Advances to Customers 6,549,859 5,248,814 8,134,654 Net ECL / Impairment (Recoveries) / Losses on Investment Securities (31,036) 10,649 25,200 (16,459) 245,384 276,149 Other Provisions 75,180 29,781 262,878 Dividend Income (139,389) (96,465) (99,217) Net Loss / (Gain) on Sale of Property and Equipment 48,071 12,789 (10,696) Net Gain on Sale of Investment Securities (448,307) (180,224) (130,368) Amortisation of Intangible Assets 43,304 147,728 216,167 Net Amortisation of Premium or Discount on Investments 870,622 768,062 (17,760,634) Net Share of Results of Associates (482,190) (429,678) (413,611) Net Monetary Loss Arising from Hyperinflation 2,326,824 2,992,339 3,539,271 (339,916) 276,880 (18,181,073) Changes in: Due from Banks (5,185,016) (12,432,256) (4,214,107) Loans and Advances to Customers (106,066,914) (74,973,715) (92,251,738) Other Assets 390,578 (10,875,910) (10,525,489) Due to Banks (13,597,315) (17,341,349) 18,184,235 Customer Deposits 73,817,487 79,329,376 72,530,416 Other Liabilities 11,614,825 10,382,895 10,931,483 Cash used in Operations (39,366,271) (25,634,079) (23,526,273) Interest Received 90,264,280 87,033,459 120,544,982 Interest Paid (63,801,296) (62,598,150) (92,203,809) Dividends Received 139,389 96,465 99,217 Income Tax Paid (2,688,082) (1,645,373) (2,173,821) Other Provisions Paid (28,605) (13,213) (133,143) Net Cash Flows (used in) / from Operating Activities (15,480,585) (2,760,891) 2,607,153 Cash Flows from Investing Activities Acquisitions of Investment Securities (247,108,472) (179,022,832) (211,258,433) Proceeds from Sale / Redemption of Investment Securities 244,943,069 170,567,064 219,097,499 Dividend from Associates 203,829 206,443 206,175 Additions to Property and Equipment (1,211,635) (1,012,581) (1,478,677) Proceeds from Sale of Property and Equipment 11,132 15,212 50,030 Net Cash Flows (used in) / from Investing Activities (3,162,077) (9,246,694) 6,616,594 Net ECL / Impairment (Recoveries) / Losses on Other Financial Instruments
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Qatar National Bank (Q.P.S.C.) Interim Consolidated Statement of Cash Flows (Continued) For the Nine Month Period Ended 30 September 2025 Note Nine Months to Nine Months to Year to 30 September 30 September 31 December 2025 2024 2024 (Reviewed) (Reviewed) (Audited) QR000 QR000 QR000 Cash Flows from Financing Activities Payment of Coupon on Instruments Eligible for Additional Capital (1,150,000) (1,150,000) (1,150,000) Proceeds from Issuance of Debt Securities 14,000,108 11,947,761 8,630,395 Repayment of Debt Securities (8,801,671) (9,713,362) (7,567,728) Proceeds from Issuance of Other Borrowings 17,957,162 8,808,350 11,079,454 Repayment of Other Borrowings (2,966,345) (1,048,202) (5,746,872) Repayment of Lease Liabilities (211,664) (137,374) (233,529) Purchase of Treasury Shares (1,349,833) - (660,730) Interim Dividend Paid (3,191,380) (3,048,021) (3,048,021) Final Dividend Paid (3,392,368) (6,007,882) (6,009,867) Net Cash Flows from / (used in) Financing Activities 10,894,009 (348,730) (4,706,898) Net (Decrease) / Increase in Cash and Cash Equivalents (7,748,653) (12,356,315) 4,516,849 Effects of Exchange Rate Changes on Cash and Cash Equivalents (307,882) (1,264,844) (1,435,770) Cash and Cash Equivalents as at 1 January 111,208,891 108,127,812 108,127,812 Cash and Cash Equivalents at 30 September / 31 December 14 103,152,356 94,506,653 111,208,891 The attached notes 1 to 15 form an integral part of these interim condensed consolidated financial statements.
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Qatar National Bank (Q.P.S.C.) Notes to the Interim Condensed Consolidated Financial Statements For the Nine Month Period Ended 30 September 2025 1. BASIS OF PREPARATION AND MATERIAL ACCOUNTING POLICY INFORMATION The accompanying interim condensed consolidated financial statements are prepared in accordance with IAS 34 'Interim Financial Reporting' . These interim condensed consolidated financial statements should be read in conjunction with the 2024 annual audited consolidated financial statements of the Group. The interim condensed consolidated financial statements do not contain all information and disclosures required for full consolidated financial statements prepared in accordance with International Financial Reporting Standards. In addition, results for the nine month period ended 30 September 2025 are not necessarily indicative of the results that may be expected for the financial year ending 31 December 2025. The preparation of the interim condensed consolidated financial statements requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expenses. Actual results may differ from these estimates. The significant judgements made by management in applying the Group's accounting policies and the key sources of estimation uncertainty were the same as those that applied to the consolidated financial statements for the year ended 31 December 2024. The Group has consistently applied the accounting policies as applied in the annual consolidated financial statements for the year ended 31 December 2024, except for the changes that became effective from 1 January 2025. The Group's financial risk management objectives and policies are consistent with those disclosed in the consolidated financial statements for the year ended 31 December 2024. The following amendment to existing standard has been applied by the Group in preparation of these interim condensed consolidated financial statements. The adoption of this does not have significant impact on the interim condensed consolidated financial statements. Description Effective from Lack of Exchangeability – Amendments to IAS 21 1 January 2025 New Standards, Amendments Issued but not yet Effective Classification and Measurement of Financial Instruments – Amendments to IFRS 9 and IFRS 7 1 January 2026 Annual Improvements to IFRS Accounting Standards – Volume 11 1 January 2026 Power Purchase Agreements – Amendments to IFRS 9 and IFRS 7 1 January 2026 IFRS 18, Presentation and Disclosure in Financial Statements 1 January 2027 IFRS 19, Subsidiaries without Public Accountability: Disclosures 1 January 2027 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture – Amendments to IFRS 10 and IAS 28 Deferred indefinitely The Group is currently evaluating the impact of these standards and amendments. The Group will adopt it when these become effective.
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Qatar National Bank (Q.P.S.C.) Notes to the Interim Condensed Consolidated Financial Statements For the Nine Month Period Ended 30 September 2025 2. SEGMENT INFORMATION The Group is organised into four main operating segments. The results of each of the operating segments, which are being monitored regularly by the Chief Operating Decision Maker, are stated below: Corporate Consumer Asset Unallocated International Total Banking Banking and Wealth & Intra-group Banking Management Transactions QR000 QR000 QR000 QR000 QR000 QR000 As at and for the nine month period ended 30 September 2025: Revenue: Net Interest Income 11,331,007 863,487 645,825 343,648 13,280,413 26,464,380 Net Fees and Commission Income 839,216 209,626 253,541 1,645 2,416,477 3,720,505 Net Foreign Exchange Gain 334,994 163,580 115,905 8,524 1,183,245 1,806,248 Income from Investment Securities 120,001 - - - 467,695 587,696 Other Operating Income - 98 709 - 213,587 214,394 Share of Results of Associates 481,622 - - - 568 482,190 Total Segment Revenue 13,106,840 1,236,791 1,015,980 353,817 17,561,985 33,275,413 Reportable Segment Profit 6,793,146 617,860 763,400 21,471 4,633,684 12,829,561 Reportable Segment Investments 114,559,454 - 5,131 - 65,744,818 180,309,403 Reportable Segment Loans and Advances 708,940,802 11,358,783 43,463,194 - 236,794,680 1,000,557,459 Reportable Segment Customer Deposits 412,144,068 42,389,851 45,605,782 - 462,451,151 962,590,852 Reportable Segment Assets 990,240,725 44,845,886 47,715,930 (411,472,803) 717,787,337 1,389,117,075 Qatar Operations
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Qatar National Bank (Q.P.S.C.) Notes to the Interim Condensed Consolidated Financial Statements For the Nine Month Period Ended 30 September 2025 2. SEGMENT INFORMATION (CONTINUED) Corporate Consumer Asset Unallocated International Total Banking Banking and Wealth & Intra-group Banking Management Transactions QR000 QR000 QR000 QR000 QR000 QR000 As at and for the nine month period ended 30 September 2024: Revenue: Net Interest Income 11,791,964 746,891 601,856 295,460 10,614,065 24,050,236 Net Fees and Commission Income 873,899 208,858 272,967 2,555 2,014,870 3,373,149 Net Foreign Exchange Gain 377,297 142,426 87,819 (10,667) 1,618,791 2,215,666 Income from Investment Securities 79,630 - - - 197,059 276,689 Other Operating Income - 98 374 - 132,537 133,009 Share of Results of Associates 426,029 - - - 3,649 429,678 Total Segment Revenue 13,548,819 1,098,273 963,016 287,348 14,580,971 30,478,427 Reportable Segment Profit 7,912,886 634,752 792,936 11,547 3,358,823 12,710,944 Reportable Segment Investments 109,553,053 - 3,805 - 66,200,934 175,757,792 Reportable Segment Loans and Advances 659,774,599 10,579,864 42,252,825 - 192,536,219 905,143,507 Reportable Segment Customer Deposits 434,616,535 40,523,877 47,105,838 - 387,038,436 909,284,686 Reportable Segment Assets 925,477,685 42,539,083 49,082,449 (348,626,349) 610,783,703 1,279,256,571 Qatar Operations
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Qatar National Bank (Q.P.S.C.) Notes to the Interim Condensed Consolidated Financial Statements For the Nine Month Period Ended 30 September 2025 3. LOANS AND ADVANCES TO CUSTOMERS 30 September 30 September 31 December 2025 2024 2024 (Reviewed) (Reviewed) (Audited) QR000 QR000 QR000 Loans and Advances to Customers 1,021,910,712 922,446,870 926,009,473 Deferred Profit (30,865) (36,135) (45,934) Accrued Interest 18,536,213 18,019,076 18,458,470 Expected Credit Losses - Performing Loans and Advances to Customers - Stage 1 and 2 (9,887,289) (7,717,045) (7,404,027) Impairment on Non-performing Loans and Advances to Customers Stage 3 - Specific provision (22,932,633) (21,492,259) (20,395,493) Stage 3 - Interest in suspense (7,038,679) (6,077,000) (5,864,738) Net Loans and Advances to Customers 1,000,557,459 905,143,507 910,757,751 The gross exposure of loans and advances to customers by stage is as follows: 30 September 30 September 31 December 2025 2024 2024 (Reviewed) (Reviewed) (Audited) QR000 QR000 QR000 Stage 1 965,010,040 867,039,962 873,578,699 Stage 2 45,492,997 45,823,926 44,664,928 Stage 3 29,913,023 27,565,923 26,178,382 Total Gross Exposures 1,040,416,060 940,429,811 944,422,009 The movement of expected credit losses and impairment for the period for loans and advances to customers is as follows: Stage 1 Stage 2 Stage 3 Total (Reviewed) (Reviewed) (Reviewed) (Reviewed) QR000 QR000 QR000 QR000 Opening Balance of Provisions as at 1 January 2025 2,560,690 4,843,337 26,260,231 33,664,258 ECL / Impairment Charge for the Period (Net) 437,942 2,648,160 4,702,746 7,788,848 Foreign Currency Translation for the Period (216,309) (225,015) (355,459) (796,783) Transfers from Stage 2 to 1 27,062 (27,062) - - Transfers from Stage 2 to 3 - (161,516) 161,516 - Write-offs during the Period - - (797,722) (797,722) Closing Balance as at 30 September 2025 2,809,385 7,077,904 29,971,312 39,858,601 30 September 2025
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Qatar National Bank (Q.P.S.C.) Notes to the Interim Condensed Consolidated Financial Statements For the Nine Month Period Ended 30 September 2025 3. LOANS AND ADVANCES TO CUSTOMERS (CONTINUED) Stage 1 Stage 2 Stage 3 Total (Reviewed) (Reviewed) (Reviewed) (Reviewed) QR000 QR000 QR000 QR000 Opening Balance of Provisions as at 1 January 2024 2,851,725 4,988,431 26,380,859 34,221,015 ECL / Impairment Charge for the Period (Net) (193,270) 360,677 6,524,620 6,692,027 Foreign Currency Translation for the Period (257,923) (201,338) (660,716) (1,119,977) Transfers from Stage 1 to 2 (2,060) 2,060 - - Transfers from Stage 3 to 2 - 168,743 (168,743) - Write-offs during the Period - - (4,506,761) (4,506,761) Closing Balance as at 30 September 2024 2,398,472 5,318,573 27,569,259 35,286,304 The reconciliation of movement of ECL allowance to the ECL amount recognised in profit and loss is as follows: Nine Months to Nine Months to 30 September 30 September 2025 2024 (Reviewed) (Reviewed) QR000 QR000 Net movement in ECL allowance during the period 7,788,848 6,692,027 Interest suspended during the period (1,166,948) (1,218,630) (Direct recoveries) / Balances written off during the period, net (72,041) (224,583) 6,549,859 5,248,814 4. INVESTMENT SECURITIES 30 September 30 September 31 December 2025 2024 2024 (Reviewed) (Reviewed) (Audited) QR000 QR000 QR000 Investment Securities at Fair Value Through Profit or Loss (FVPL) 1,384,606 1,252,848 1,566,519 Investment Securities at Fair Value Through Other Comprehensive Income (FVOCI) 56,878,506 53,096,123 50,197,903 Investment Securities at Amortised Cost (AC), net 118,204,514 117,718,182 119,570,245 Accrued Interest 3,841,777 3,690,639 3,988,007 Total 180,309,403 175,757,792 175,322,674 Impairment allowance, included in the carrying value of debt securities 240,835 295,824 285,950 30 September 2024
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Qatar National Bank (Q.P.S.C.) Notes to the Interim Condensed Consolidated Financial Statements For the Nine Month Period Ended 30 September 2025 5. TREASURY SHARES On 11 September 2024, the Board of Directors of Qatar National Bank (Q.P.S.C.) approved to buy back a percentage of the Bank’s shares for a value up to QR 2.9 billion. On 29 September 2024, the Group announced that it has obtained all applicable approvals from Qatar Central Bank and Qatar Financial Market Authority to proceed with its share repurchase. The Group commenced share repurchases from 9 October 2024. The following table summarizes the cumulative shares repurchased as at the end of the reporting periods. 30 September 30 September 31 December 2025 2024 2024 (Reviewed) (Reviewed) (Audited) QR000 QR000 QR000 Total number of shares repurchased, cumulative 119,069,540 - 38,330,000 Average price of shares repurchased, per share (Qatari Riyal) 16.89 - 17.24 Total value of shares repurchased, cumulative 2,010,563 - 660,730 6. FAIR VALUE RESERVE 30 September 30 September 31 December 2025 2024 2024 (Reviewed) (Reviewed) (Audited) QR000 QR000 QR000 Cash Flow Hedges (343,023) (68,868) (733,548) Fair Value Through Other Comprehensive Income (FVOCI) (165,170) (302,894) (469,650) Hedges of a Net Investment in Foreign Operations - 218,296 - Total (508,193) (153,466) (1,203,198) Expected credit losses (Stage 1 and 2) on FVOCI debt securities, included in fair value reserve 32,402 27,508 30,449 7. DIVIDENDS The table shows the details of cash dividends for the following periods: Date of Dividend per Total dividend Profit Period eligibility Dividend type share (QR) QR000 Six months ended 30 June 2025 17 July 2025 Interim 0.35 3,191,380 For the year ended 31 December 2024 Six months ended 30 June 2024 17 July 2024 Interim 0.33 3,048,021 Six months ended 31 December 2024 24 February 2025 Final 0.37 3,391,575 0.70 6,439,596 For the year ended 31 December 2023 12 February 2024 Final 0.65 6,003,679
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Qatar National Bank (Q.P.S.C.) Notes to the Interim Condensed Consolidated Financial Statements For the Nine Month Period Ended 30 September 2025 8. CONTINGENT LIABILITIES AND OTHER COMMITMENTS 30 September 30 September 31 December 2025 2024 2024 (Reviewed) (Reviewed) (Audited) QR000 QR000 QR000 Contingent Liabilities Unused Facilities 191,326,858 148,019,213 156,578,487 Guarantees 84,924,641 80,171,568 80,259,624 Letters of Credit 38,029,676 49,091,061 47,423,105 Others 6,458,824 7,172,549 6,962,100 Total 320,739,999 284,454,391 291,223,316 The gross exposure of contingent liabilities by stage is as follows: 30 September 30 September 31 December 2025 2024 2024 (Reviewed) (Reviewed) (Audited) QR000 QR000 QR000 Stage 1 310,212,290 272,865,900 277,699,228 Stage 2 3,500,702 3,874,633 6,018,914 Stage 3 568,183 541,309 543,074 Total Gross Exposures 314,281,175 277,281,842 284,261,216 The movement of expected credit losses and impairment for the period for contingent liabilities is as follows: Stage 1 Stage 2 Stage 3 Total (Reviewed) (Reviewed) (Reviewed) (Reviewed) QR000 QR000 QR000 QR000 Opening Balance of Provisions as at 1 January 2025 422,241 246,679 440,199 1,109,119 ECL / Impairment Charge for the Period (Net) (22,098) (28,353) 46,472 (3,979) Foreign Currency Translation for the Period (18,022) (1,603) (6,469) (26,094) Transfers during the Period 7,847 (3,652) (4,195) - Closing Balance as at 30 September 2025 389,968 213,071 476,007 1,079,046 Stage 1 Stage 2 Stage 3 Total (Reviewed) (Reviewed) (Reviewed) (Reviewed) QR000 QR000 QR000 QR000 Opening Balance of Provisions as at 1 January 2024 579,907 230,473 336,174 1,146,554 ECL / Impairment Charge for the Period (Net) (104,267) 2,128 99,667 (2,472) Foreign Currency Translation for the Period (28,322) (5,502) (7,867) (41,691) Transfers during the Period (9,069) 265 8,804 - Closing Balance as at 30 September 2024 438,249 227,364 436,778 1,102,391 30 September 2025 30 September 2024
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Qatar National Bank (Q.P.S.C.) Notes to the Interim Condensed Consolidated Financial Statements For the Nine Month Period Ended 30 September 2025 9. RELATED PARTY DISCLOSURES The Group has transactions in the ordinary course of business with directors and officers of the Group and entities over which they have significant influence and control. As at the end of the reporting period, such significant items included: 30 September 30 September 31 December 2025 2024 2024 (Reviewed) (Reviewed) (Audited) QR000 QR000 QR000 Statement of Financial Position Items Loans and Advances to Customers 6,441,160 3,397,877 3,424,377 Customer Deposits 2,272,477 1,778,845 1,762,858 Contingent Liabilities and Other Commitments 203,948 59,492 77,547 Statement of Income Items Interest and Commission Income 133,358 152,508 198,691 Interest and Commission Expense 55,145 68,806 92,850 Associates Due from banks 967,922 1,228,682 1,116,667 Interest and Commission Income 39,727 49,964 65,412 Due to banks 692 496 167,333 Interest and Commission Expense 174 474 898 Compensation of key management personnel Salaries and Other Benefits 48,705 48,022 49,985 End of Service Indemnity Benefits 2,653 2,622 3,338 Transactions with State of Qatar The State of Qatar owns 50% of the Bank's outstanding shares through Qatar Investment Authority. Significant commercial transactions with the State include: Loans and Advances to Customers 109,789,021 93,789,288 87,005,977 Customer Deposits 35,122,801 27,440,682 22,764,845 10. CAPITAL ADEQUACY 30 September 30 September 31 December 2025 2024 2024 (Reviewed) (Reviewed) (Audited) QR000 QR000 QR000 Common Equity Tier 1 (CET 1) Capital 95,285,700 86,452,244 88,276,857 Eligible Additional Tier 1 (AT 1) Capital Instruments 20,000,000 20,000,000 20,000,000 Additional Tier 1 Capital 114,840 93,611 74,680 Additional Tier 2 Capital 7,160,617 6,521,250 6,529,033 Total Eligible Capital 122,561,157 113,067,105 114,880,570 Less: Dividends (note 7) - - (3,391,575) Total Eligible Capital, net of dividend 122,561,157 113,067,105 111,488,995 Risk Weighted Assets 629,170,038 579,254,755 579,996,264 Total Capital Ratio 19.5% 19.5% 19.2%
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Qatar National Bank (Q.P.S.C.) Notes to the Interim Condensed Consolidated Financial Statements For the Nine Month Period Ended 30 September 2025 10. CAPITAL ADEQUACY (CONTINUED) QNB Group follows Basel III Capital Adequacy Ratio (CAR) calculation in accordance with Qatar Central Bank (QCB) regulations. QCB has issued Basel III Framework for Conventional Banks – Pillar 1 Guidelines for Capital Adequacy in September 2022 (commonly known as Basel III reforms or Basel IV) that are effective from 1 January 2024. QNB Group's Capital Adequacy Ratio (CAR) calculation for periods beginning 1 January 2024 have been prepared in accordance with the applicable QCB requirements. In addition, QCB has increased DSIB buffer for QNB Group from 2.5% to 3.5% from 1 January 2024. The minimum accepted total Capital Adequacy Ratio requirements under Basel III as per QCB Requirements is as follows: - Minimum limit without Capital Conservation buffer is 10% (31 December 2024: 10%) . - Minimum limit including Capital Conservation buffer, ICAAP buffer and the applicable Domestically Systemically Important Bank ("DSIB") buffer is 17% (31 December 2024: 17%). 11. FAIR VALUE HIERARCHY OF FINANCIAL INSTRUMENTS The table below analyses financial instruments measured at fair value at the end of the reporting period, by the level in the fair value hierarchy into which the fair value measurement is categorised. There is no change in fair value hierarchy compared to 31 December 2024. Level 1 Level 2 Level 3 Total QR000 QR000 QR000 QR000 At 30 September 2025: (Reviewed) Derivative Assets - 8,173,988 - 8,173,988 Investment Securities 54,752,948 4,703,535 - 59,456,483 54,752,948 12,877,523 - 67,630,471 Derivative Liabilities 123 7,787,887 - 7,788,010 123 7,787,887 - 7,788,010 At 31 December 2024: (Audited) Derivative Assets - 7,517,972 - 7,517,972 Investment Securities 37,757,905 15,044,157 - 52,802,062 37,757,905 22,562,129 - 60,320,034 Derivative Liabilities 4 9,914,743 - 9,914,747 4 9,914,743 - 9,914,747 12. INCOME TAX Three Months to Three Months to Nine Months to Nine Months to 30 September 30 September 30 September 30 September 2025 2024 2025 2024 (Reviewed) (Reviewed) (Reviewed) (Reviewed) QR000 QR000 QR000 QR000 Current Income Tax 1,201,671 136,394 2,663,102 1,526,490 Deferred Tax (Benefit) / Charge (328,383) 529,300 (228,604) 551,962 Adjustments to Prior Period Corporate Taxes 11,897 14,468 22,856 - Pillar Two Taxes – Qatar 369,794 - 1,046,400 - Pillar Two Taxes – Outside Qatar 333 - 980 - Income tax charge 1,255,312 680,162 3,504,734 2,078,452
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Qatar National Bank (Q.P.S.C.) Notes to the Interim Condensed Consolidated Financial Statements For the Nine Month Period Ended 30 September 2025 12. INCOME TAX (CONTINUED) Pillar Two Taxes – Qatar The Group has accrued for Pillar Two Taxes with effect from 1 January 2025 based on the applicable rules under Base Erosion and Profit Shifting (BEPS) Pillar Two Anti Global Base Erosion ("GloBE") Rules. The Rules have multiple mechanisms that aim to ensure that qualified multinational enterprises maintain a minimum effective tax rate of 15% calculated based on the excess taxable profits in every jurisdiction in which QNB Group operates. 13. BASIC AND DILUTED EARNINGS PER SHARE Three Months to Three Months to Nine Months to Nine Months to 30 September 30 September 30 September 30 September 2025 2024 2025 2024 (Reviewed) (Reviewed) (Reviewed) (Reviewed) QR000 QR000 QR000 QR000 Profit for the Period Attributable to Equity Holders of the Bank 4,428,739 4,549,128 12,829,561 12,710,944 Less: Dividend Appropriation for Instruments Eligible for Additional Tier 1 Capital (287,500) (287,500) (862,500) (862,500) Net Profit for the Period Attributable to Equity Holders of the Bank 4,141,239 4,261,628 11,967,061 11,848,444 Weighted Average Number of Shares 9,117,934,695 9,236,428,570 9,141,386,793 9,236,428,570 Earnings Per Share (QR) - Basic and Diluted 0.45 0.46 1.31 1.28 Weighted Average Number of Shares Number of shares outstanding at the beginning of the period, net of treasury shares 9,120,320,813 9,236,428,570 9,198,098,570 9,236,428,570 Weighted average number of shares repurchased during the period (2,386,118) - (56,711,777) - Weighted average number of shares during the period, net of treasury shares 9,117,934,695 9,236,428,570 9,141,386,793 9,236,428,570 14. CASH AND CASH EQUIVALENTS balances: 30 September 30 September 31 December 2025 2024 2024 (Reviewed) (Reviewed) (Audited) QR000 QR000 QR000 Cash and Balances with Central Banks 33,222,279 34,533,776 25,564,937 Due from Banks with Original Maturity of Three Months or Less 69,930,077 59,972,877 85,643,954 Total 103,152,356 94,506,653 111,208,891 Cash and Balances with Central Banks do not include mandatory reserve deposits. 15. COMPARATIVE INFORMATION Certain comparative information has been reclassified where necessary to preserve consistency with the presentation in the current period. However, such reclassifications did not have any effect on the interim consolidated statement of income or the consolidated equity of the Group for the comparative period / year. For the purposes of the interim consolidated statement of cash flows, cash and cash equivalents comprise the following