QNBFS Projects Non-Banks to Boost Q4 2025 Earnings in Qatar
QNB Financial Services (QNBFS) projects a 20.4% year-on-year increase in Qatar Stock Exchange (QSE) earnings for Q4 2025, driven primarily by a 34.9% growth in non-banking companies. Despite a 2.6% decline in the QSE during the quarter, it outperformed the GCC markets, which saw a 5.1% drop, while foreign institutional investors contributed $346 million in net buying. Overall, QSE earnings are expected to grow by 4.9% for FY2025, with a dividend yield of approximately 4.7%.
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QNB Financial Services (QNBFS) forecasts a 20.4% year-on-year increase in Qatar Stock Exchange (QSE) earnings for Q4 2025, led by non-banking companies expected to grow earnings by 34.9%. Aggregate QSE earnings rose 2.8% YoY in Q3 2025.
Full-year growth for FY2025 is estimated at 4.9%, with a dividend yield of approximately 4.7%. Qatar's GDP is projected to grow 2.9% in 2025, accelerating to 5.1% in 2026 and 7.2% in 2027 due to LNG production increases.
Despite a 2.6% decline in the QSE in Q4 2025, it outperformed the GCC markets, which fell 5.1%. Foreign institutional investors contributed $346 million in net buying during the quarter.
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