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Qatari (QE) Banks Industry Analysis

UpdatedDec 26, 2025
DataAggregated Company Financials
Companies9
  • 7D1.7%
  • 3M1.9%
  • 1Y8.3%
  • YTD8.0%

Over the last 7 days, the Banks industry has risen 1.7%, driven by gains from Qatar National Bank (Q.P.S.C.) of 2.5%. This means that the industry has gained 8.3% over the past year. As for the next few years, earnings are expected to grow by 9.7% per annum.

Industry Valuation and Performance

Has the Qatari Banks Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 27 Dec 2025ر.ق321.5bر.ق69.9bر.ق28.5b11.8x11.3x4.6x
Mon, 24 Nov 2025ر.ق311.1bر.ق69.9bر.ق28.5b11.3x10.9x4.5x
Wed, 22 Oct 2025ر.ق317.0bر.ق69.9bر.ق28.4b12.5x11.2x4.5x
Fri, 19 Sep 2025ر.ق331.8bر.ق69.5bر.ق28.7b13x11.6x4.8x
Sun, 17 Aug 2025ر.ق341.2bر.ق69.5bر.ق28.7b13.2x11.9x4.9x
Tue, 15 Jul 2025ر.ق306.0bر.ق69.6bر.ق28.6b12x10.7x4.4x
Thu, 12 Jun 2025ر.ق306.2bر.ق69.3bر.ق28.5b11.9x10.7x4.4x
Sat, 10 May 2025ر.ق298.6bر.ق69.3bر.ق28.5b11.4x10.5x4.3x
Mon, 07 Apr 2025ر.ق285.0bر.ق69.2bر.ق28.4b10.9x10x4.1x
Wed, 05 Mar 2025ر.ق294.2bر.ق69.2bر.ق28.4b11.1x10.3x4.2x
Fri, 31 Jan 2025ر.ق295.7bر.ق69.4bر.ق28.4b11.1x10.4x4.3x
Sun, 29 Dec 2024ر.ق298.8bر.ق69.0bر.ق27.9b11.4x10.7x4.3x
Tue, 26 Nov 2024ر.ق296.0bر.ق69.0bر.ق27.9b11.4x10.6x4.3x
Thu, 24 Oct 2024ر.ق296.1bر.ق68.8bر.ق27.9b11.5x10.6x4.3x
Sat, 21 Sep 2024ر.ق296.4bر.ق68.9bر.ق27.6b11.7x10.7x4.3x
Mon, 19 Aug 2024ر.ق280.6bر.ق68.9bر.ق27.6b11.6x10.2x4.1x
Wed, 17 Jul 2024ر.ق276.2bر.ق68.2bر.ق27.5b11.7x10.1x4x
Fri, 14 Jun 2024ر.ق259.6bر.ق67.3bر.ق27.2b12.1x9.6x3.9x
Sun, 12 May 2024ر.ق260.0bر.ق67.3bر.ق27.2b11.7x9.6x3.9x
Tue, 09 Apr 2024ر.ق269.0bر.ق64.0bر.ق26.5b12.2x10.1x4.2x
Thu, 07 Mar 2024ر.ق280.1bر.ق64.0bر.ق26.5b12.4x10.6x4.4x
Sat, 03 Feb 2024ر.ق284.5bر.ق63.3bر.ق26.5b13.1x10.7x4.5x
Mon, 01 Jan 2024ر.ق299.1bر.ق61.7bر.ق25.6b12.6x11.7x4.8x
Wed, 29 Nov 2023ر.ق286.2bر.ق61.7bر.ق25.6b12.3x11.2x4.6x
Fri, 27 Oct 2023ر.ق263.2bر.ق59.6bر.ق25.4b12.6x10.4x4.4x
Sun, 24 Sep 2023ر.ق279.3bر.ق56.9bر.ق25.1b12.5x11.1x4.9x
Tue, 22 Aug 2023ر.ق298.8bر.ق56.9bر.ق25.1b13.2x11.9x5.2x
Thu, 20 Jul 2023ر.ق292.2bر.ق55.8bر.ق25.2b13.9x11.6x5.2x
Sat, 17 Jun 2023ر.ق293.0bر.ق54.8bر.ق24.8b13.6x11.8x5.3x
Mon, 15 May 2023ر.ق298.1bر.ق54.2bر.ق24.7b14x12.1x5.5x
Wed, 12 Apr 2023ر.ق289.6bر.ق49.2bر.ق23.7b12.6x12.2x5.9x
Fri, 10 Mar 2023ر.ق298.5bر.ق48.0bر.ق23.5b12.8x12.7x6.2x
Sun, 05 Feb 2023ر.ق285.8bر.ق48.0bر.ق23.5b12x12.1x6x
Tue, 03 Jan 2023ر.ق298.3bر.ق44.8bر.ق22.6b12.7x13.2x6.7x
Price to Earnings Ratio

13.2x


Total Market Cap: ر.ق298.3bTotal Earnings: ر.ق22.6bTotal Revenue: ر.ق44.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Qatari Banks Industry Price to Earnings3Y Average 11x20242025
Current Industry PE
  • Investors are relatively neutral on the Qatari Banks industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 11.0x.
  • The industry is trading close to its 3-year average PS ratio of 4.7x.
Past Earnings Growth
  • The earnings for companies in the Banks industry have grown 8.0% per year over the last three years.
  • Revenues for these companies have grown 16% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Qatari Financials industry?

QA Market1.45%
Financials1.62%
Banks1.69%
Diversified Banks1.71%
Regional Banks1.38%
Industry PE
  • Investors are most optimistic about the Regional Banks industry even though it's trading below its 3-year average PE ratio of 21.3x.
    • Analysts are expecting annual earnings growth of 11.7%, which is lower than the prior year's growth of 18.2% per year.
  • Investors are most pessimistic about the Diversified Banks industry, which is trading close to its 3-year average of 10.8x.
Forecasted Growth
  • Analysts are most optimistic on the Regional Banks industry, expecting annual earnings growth of 12% over the next 5 years.
  • However this is lower than its past earnings growth rate of 18% per year.
  • In contrast, the Diversified Banks industry is expected to see its earnings grow by 9.5% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
QNBK Qatar National Bank (Q.P.S.C.)ر.ق18.802.5%
+ر.ق4.1b		10.0%PB1.4x
DHBK Doha Bank Q.P.S.Cر.ق2.934.6%
+ر.ق400.0m		48.8%PB0.6x
QIIK Qatar International Islamic Bank (Q.P.S.C)ر.ق11.412.2%
+ر.ق378.4m		8.2%PB1.8x
DUBK Dukhan Bank Q.P.S.Cر.ق3.511.2%
+ر.ق207.8m		-5.2%PB1.2x
MARK AlRayan Bank Q.P.S.Cر.ق2.200.5%
+ر.ق111.6m		-11.3%PB0.8x

Latest News

QNBK
ر.ق18.80
Qatar National Bank (Q.P.S.C.)
7D
2.5%
1Y
10.0%

QNBK: Digital-First Gulf Expansion Will Drive Stronger Long-Term Outlook

Narrative Update Analysts have marginally raised their price target on Qatar National Bank (Q.P.S.C.) to approximately QAR 21.75 from about QAR 21.66. This reflects slightly stronger profit margin expectations and a modestly higher justified valuation multiple, despite broadly unchanged growth and discount rate assumptions.
MARK
ر.ق2.20
AlRayan Bank Q.P.S.C
7D
0.5%
1Y
-11.3%

MARK: Stable Margins And Higher Required Return Will Support Future Upside

Analysts have nudged their price target on AlRayan Bank Q.P.S.C. slightly higher to QAR 2.57 from QAR 2.57, reflecting a marginally increased discount rate and stable expectations for revenue growth, profit margins, and forward valuation multiples. Valuation Changes Fair Value Estimate remains effectively unchanged at QAR 2.57 per share, indicating stable intrinsic valuation assumptions.
CBQK
ر.ق4.25
Commercial Bank (P.S.Q.C.)
7D
0.1%
1Y
-0.3%

CBQK: Lower Risk Profile May Still Lead To Overstretched Earnings Multiple

Analysts have raised their price target on Commercial Bank (P.S.Q.C.) from QAR 3.36 to approximately QAR 3.42. This reflects increased confidence in higher revenue growth and a lower perceived risk profile, despite slightly softer long term profit margin assumptions and valuation multiples.
DHBK
ر.ق2.93
Doha Bank Q.P.S.C
7D
4.6%
1Y
48.8%

DHBK: Future Performance Will Reflect Stable Margins And Slightly Adjusted Risk Expectations

Analysts have nudged their price target for Doha Bank Q.P.S.C. slightly higher to QAR 2.97, reflecting modest tweaks to the discount rate and long term valuation assumptions while leaving growth and margin expectations largely unchanged. Valuation Changes Fair Value Estimate maintained at approximately QAR 2.97 per share, with no material change in the intrinsic value calculation.
QIBK
ر.ق23.90
Qatar Islamic Bank (Q.P.S.C.)
7D
0.2%
1Y
15.1%

QIBK: Slightly Lower Discount Rate Will Support Stable Earnings Outlook

Analysts have trimmed their price target on Qatar Islamic Bank (Q.P.S.C.) slightly to QAR 26.23, reflecting fine-tuned assumptions around the bank's discount rate and valuation multiples, while keeping core earnings expectations largely unchanged. Valuation Changes Fair Value Estimate, unchanged at QAR 26.23 per share, indicating no revision to the intrinsic value assessment.
DUBK
ر.ق3.51
Dukhan Bank Q.P.S.C
7D
1.2%
1Y
-5.2%
QFBQ
ر.ق1.81
Lesha Bank
7D
3.5%
1Y
33.1%
ABQK
ر.ق3.67
Ahli Bank Q.P.S.C
7D
-0.5%
1Y
6.8%
QIIK
ر.ق11.41
Qatar International Islamic Bank (Q.P.S.C)
7D
2.2%
1Y
8.2%