QNB Corp. Reports Strong Fourth Quarter 2024 Earnings

QNB Corp., a leading financial institution in the Middle East and Africa (MEA) region, has reported robust financial results for the fourth quarter of 2024. The company's net income for the quarter reached $3,338,000, or $0.91 per share on a diluted basis, marking a significant increase from the same period in 2023, when net income was $2,344,000, or $0.65 per share on a diluted basis. This strong performance can be attributed to several key factors.

Firstly, QNB Corp. experienced a $1,182,000 increase in net interest income, primarily due to an improvement in the interest margin. This growth reflects the bank's ability to effectively manage its interest income and expenses, contributing to its overall financial health. Additionally, the company saw a decrease in provision for credit losses on loans and unfunded commitments of $300,000, indicating a lower risk profile and improved credit quality within its loan portfolio.