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QNBK: Expansion Into Digital Banking Will Drive Long-Term Earnings Potential

Update shared on 06 Nov 2025

Fair value Increased 1.67%
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Analysts have raised their price target for Qatar National Bank (Q.P.S.C.) from QAR 21.25 to QAR 21.60, reflecting improved revenue growth forecasts that compensate for slightly lower profit margins.

What's in the News

  • Qatar National Bank (Q.P.S.C.) provided earnings guidance for 2025, noting that if interest rates decline by about 1% annually, net interest income could decrease by QAR 600 million to QAR 800 million if no mitigating actions are taken (Key Developments).
  • QNB Group received license approval for its digital-first banking entity, ezbank, from the Central Bank of Egypt. This supports the country's vision for financial inclusion and digital transformation (Key Developments).
  • The bank also secured regulatory approval and partnership for ezbank in Saudi Arabia in cooperation with Ajlan & Bros. Holding, with SAR 2.5 billion in capital. The partnership aims to introduce innovative digital banking across more than 28 countries (Key Developments).
  • QNB Group, alongside Standard Chartered and DMZ Finance, launched the Middle East's first regulated tokenized money market fund in the DIFC. This initiative sets a new industry benchmark in real world asset tokenization (Key Developments).

Valuation Changes

  • Consensus Analyst Price Target has risen slightly from QAR 21.25 to QAR 21.60.
  • Discount Rate has fallen marginally from 20.39% to 20.33%.
  • Revenue Growth forecast has increased from 13.71% to 15.04%.
  • Net Profit Margin is expected to decrease from 46.27% to 44.17%.
  • Future P/E ratio has edged up from 14.15x to 14.53x.

Disclaimer

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