Qatar National Bank (Q.P.S.C.)

QNBK.QA

Banks - Diversified · Financial Services

Price

17.15 QAR

+0.00 (+0.00%)

Market Cap

156.29B QAR

Exchange

Qatar Stock Exchange

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Data as of Aug 9, 2026 · filings through Jun 30, 2026

Share count falling — buybacks

−1.1% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 9.24B (2021) → 9.13B (2025)

Qatar National Bank (QNB) is the largest bank in the Middle East and Africa by total assets. It offers everyday banking services like savings accounts, loans, and credit cards to regular people, as well as more complex financial services to businesses and governments. The Qatari government owns a majority stake in QNB, which gives it a uniquely strong backing in its home market.

QNB makes money primarily through interest income — charging more on loans than it pays on deposits — along with fees for banking services. It operates in over 28 countries across the Middle East, Africa, Europe, and Asia, making it one of the most internationally spread banks in the region. Its government ownership and dominant position in Qatar's oil-wealthy economy act as a strong competitive moat, but the bank faces risks tied to oil price swings, regional geopolitical tensions, and currency exposure across its many international markets.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+314.3% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+4.8% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

50.8%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$1.4T cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Qatar National Bank (Q.P.S.C.) grew revenue 314% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Bank Quality

Not applicable for this business.

Growth

Sales YoY

+189.2%

Fast-growing sales (+189.2% YoY)

EPS YoY

+3.5%

Modest earnings growth (+3.5% YoY)

Single-digit earnings growth — steady but not exciting.

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Capital Strength

Not applicable for this business.

Asset Quality

Not applicable for this business.

Valuation

P/E Ratio (TTM)

9.7x

Attractive valuation — P/E 9.7

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward

+2.6

GROWING

Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend Yield

4.38%

Healthy income — 4.38% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend Growth

-36.7%

Dividend cut (-36.7% YoY) — warning sign

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