Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Qatar National Bank Qatar National Bank

Qatar National Bank (QNB Group) was established in 1964 as the country’s first Qatari-owned commercial bank, has an ownership structure split between the Qatar Investment Authority (50%) and the private sector (50%).

QNB Group has steadily grown to be the largest bank in the Middle East and North Africa Region and is by far the leading financial institution in the country with a market share around 45% of banking sector assets.

Bloomberg Markets, the leading provider of Business, Financial and Economic news  ranked QNB as the World’s Strongest Bank in 2012. The 78 banks in Bloomberg’s ranking list included some of the largest and most renowned financial institutions in the world, with QNB being the only bank from the MENA Region.

The Global Finance Magazine ranked QNB as “One of The Top 50 Safest Banks in the World” in 2013, and the following year, it was recognized as “The Best Bank in The Middle East” by Euromoney Magazine. The Group has a vision to be a “MEA Icon” by 2017.

For the nine months of 2014, the Group recorded net profit of QR8.0 billion (USD2.2 billion), up by 12.6% compared to last year. Total assets increased by 8.8% from September 2013 to reach QR475 billion (USD130.6 billion), the highest ever achieved by the Group.

QNB Group continues to witness robust international expansion, successfully completing the acquisition of a controlling stake of the second largest private bank in Egypt, QNB ALAHLI ((QNB AA), previously known as NSGB), amounting to 97.12% during Q1, 2013. The Group has also extended its regional reach by acquiring stakes in various financial institutions including 35% stake in the Jordan-based, the Housing Bank for Trade and Finance (HBTF), 40% in Commercial Bank International (CBI) based in the United Arab Emirates (UAE), 99.96% of QNB Tunisia, 51% in the Iraqi-based Mansour Bank, 49% of the Libyan based Bank of Commerce & Development and 20% stake in Al Jazeera Finance Company in Doha. QNB Group also retains 51% stake in QNB-Syria and a 79% stake in QNB Kesawan in Indonesia. QNB Group opened a representative office in China and established a fully owned subsidiary in India under the name of “QNB India Private Limited”.

In September 2014, QNB acquired a 23.5% stake (both ordinary and QNB convertible preference shares) in Ecobank Transnational Incorporated (Ecobank), the leading pan-African bank.

The Group’s presence through its subsidiaries and associate companies increased to more than 26 countries across three continents providing a comprehensive range of advanced products and services. The total number of employees is more than 14,000 operating through more than 610 locations, with an ATM network of more than 1,300 machines.

The Group provides an array of investment banking services through its subsidiary, QNB Capital, to corporate, government and institutional clients within Qatar and globally. QNB Capital has one of the best corporate finance teams in the GCC region offering extensive transaction experience and in depth advisory – including mergers and acquisitions, equity and debt capital markets, and project financing advisory. The Group also offers brokerage services through its subsidiary, QNB Financial Services (QNB FS), the first independently regulated, licensed brokerage company launched by a bank in Qatar. QNB FS offers a multi-market, multi-currency trading platform with access to several markets.

QNB Group is among the highest rated regional banks from leading credit rating agencies including Standard & Poor’s (A+), Moody’s (Aa3), Fitch (A+), and Capital Intelligence (AA-). The Bank has also been the recipient of many awards from leading international specialised financial publications.

Based on the Group’s continuous strong performance and the expanding international presence, the bank is currently ranked as the most valuable brand in the MENA region, with a current world ranking of 101 in 2013.

QNB Group has an active community support program and sponsors various social, educational and sporting events.

Continue with Google
Sign up with Email