QNB Group, the largest financial institution in the Middle East and Africa (MEA) region, continued achieving outstanding growth rates.
For the year ended 31 December 2019, Net Profit topped QAR14.4 billion (USD3.9 billion), an increase of 4% compared to same period last year. Total Assets reached QAR945 billion (USD259 billion), an increase by 10% from 30 December 2018, one of the best set of results in QNB Group’s history.
In 2016, QNB Group completed the acquisition of 99.88% stake in Turkey’s Finansbank A.Ş. (now known as QNB Finansbank), the 5th largest privately owned universal bank. In 2013, the Group successfully completed the acquisition of the second largest private bank in Egypt, QNB ALAHLI (QNBAA) with existing ownership of 95.00%. The Group has also extended its regional footprint by acquiring stakes in various financial institutions including a 20.1% stake in Ecobank Transnational Incorporated (Ecobank), the leading pan-African bank based in Togo, a 35% stake in the Jordan-based, the Housing Bank for Trade and Finance (HBTF), 40% of Commercial Bank International (CBI) based in the United Arab Emirates (UAE), 99.99% of QNB Tunisia, 51% of the Iraqi-based Al-Mansour Investment Bank, and a 20% stake in the Al Jazeera Finance Company in Doha. QNB Group also retains a 51% stake in QNB-Syria, and a 90.96% stake in QNB Indonesia.
QNB Group has commenced operating its Representative Offices in Vietnam and Myanmar. In 2017, the Group started its operations in the city of Mumbai in addition to opening a second branch in Kuwait during the first quarter of 2018. The Group also obtained the regulatory approvals from the Hong Kong Monetary Authority (HKMA) in September 2019 to open a branch in Hong Kong. This network expansion comes in support of its vision to become a leading bank in the Middle East, Africa, and Southeast Asia by 2020, in addition to establishing a foothold in highly competitive markets.
QNB Group’s presence through its subsidiaries and associate companies extends to more than 31 countries across three continents providing a comprehensive range of advanced products and services. The total number of employees is more than 29,000 serving 25 million customers operating through 1,100 locations, with an ATM network of 4,300 machines.
QNB Group has maintained its position as one of 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.
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.
Based on the Group’s consistent strong financial performance and its expanding international presence, QNB is currently ranked as the most valuable bank brand in the Middle East and Africa, according to Brand Finance Magazine.
QNB Group has an active community support program and sponsors various social, educational and sporting events.
For further information, please contact QNB’s Public Relations Department at (+974) 4497 5704, Fax (+974) 4425 2589, email PR@qnb.com