A net profit of QR4.1 Billion for the first half of 2012 is an increase by 17.1% compared to the same period last year, the QNB Group said Wednesday while announcing its financial results for the period ended June 30. The total assets increased by 25.5% since June 30, 2011 to reach QR330.8 Billion, the highest ever achieved by the Group, the bank said. This was the result of a strong growth rate of 55.9% in loans and advances to reach QR234.7 billion. Customer deposits recorded a good growth by QR49.6 billion, up by 25.3% to reach QR245.9 Billion. The total equity was up by QR5.1 Billion, an increase by 13.0%, since June 2011 to QR44.1 Billion. The total assets were up by QR67.2 billion, an increase by 25.5%, since June 2011 to QR330.8 Billion. The bank was able to maintain the ratio of non-performing loans to total loans at 1.1%, a level considered to be the lowest amongst banks in the Middle East and North Africa. Provisions were conservatively managed, as the coverage ratio reached 123%, it said. The total operating income increased to QR5.7 Billion, up by 23.0% compared to the same period last year, as QNB Group succeeded in achieving strong growth across the range of revenue sources. Net interest income and income from Islamic financing activities increased substantially, up by 29.7% to reach QR4.5 Billion, the bank said. The total shareholders\' equity increased by 13.0% since 30 June 2011 to reach QR44.1 billion. QNB Group maintains a strong capital adequacy ratio higher than the regulatory requirements of Qatar Central Bank and Basel Committee. The Group is keen to maintain a strong capitalisation in order to support future strategic plans, the bank said. QNB Group continued to diversify its income sources, with net fees and commissions income increasing by 9.8% to QR659.9 million, while net gain from foreign exchange increased by 55.8% to QR315.1 million. The efficiency ratio (cost to income ratio) stood at 16.4%, compared to 15.8% in June 2011, one of the best ratios among financial institutions in the Middle East and North Africa. The bank attributed its high credit ratings from some of the leading rating agencies to its excellent overall performance. Based on the bank\'s strong capitalization and high credit ratings, QNB was named one of the World s 50 Safest Banks and one of the Safest Banks in the Middle East, according to the latest update published by Global Finance in April 2012. Among its achievements, the bank listed its successful launch of the Euro Medium Term Note Program (EMTN) Program in the international capital markets which amounted to US$1.0 Billion with a five-year maturity at a coupon rate of 3.375%.  (QNA)