QNB Begins Its Banking Operations in Kuwait

Posted on : Mon, 31 Dec 2007

Doha, 31 December 2007 – Qatar National Bank (QNB) announced today that it has started its banking operations in its branch in the State of Kuwait. The branch is the first for a Qatari bank which adds further weight to the bank's bright record of pioneering initiatives

QNB, this year, has witnessed an extensive expansion of its operations in countries far and wide including Singapore, Yemen, Libya and Oman in addition to its investments in Banks in Syria and Jordan. Most recently the bank received a license to operate in Mauritania.

After obtaining the license in September this year, QNB has enthusiastically stepped up its efforts to ensure that the branch can begin operation and serve its customers in the shortest time possible.

Speaking on this occasion, Mr. Ali Shareef Al Emadi, QNB’s Group Chief Executive Officer said: “We, at QNB, recognize the importance of having regional and international presence in view of the rapidly widening base of clients and the development in the banking industry.”

“This also underscores the importance of being available in business locations to meet corporate and individual demands for services. With this step we hope to boost the economic growth in the region and add value to our shareholders' investments,” Mr. Al Emadi added.

The new step will further strengthen QNB’s presence in the GCC thus helping the Bank contribute to the development of the financial markets in the Gulf Region.

QNB’s new branch will provide a wide range of first class banking services and unique investment opportunities to both corporate and individual customers in both Doha and Kuwait.

The expansion and investment policy of QNB has proved its efficiency through the strong performance of the Bank during 2007, and through the high ratings of QNB. QNB sees a lot of potential to expand and grow in Kuwait, and with this new branch, QNB reinforces its position as the leading bank in Qatar and one of the fastest growing banks in the region