Since its establishment in 1964, QNB Group has steadily grown to become the biggest bank in Qatar and the largest financial institution in the Middle East and Africa (MEA) region.
Net Profit before the impact of hyperinflation for the nine months ended 30 September 2022 reached QAR12.3 billion (USD3.4 billion), an increase of 20% compared to the same period last year.
Net profit after the impact of hyperinflation to reach QAR11.0 billion (USD3.0 billion), an increase of 7% compared to same period last year, despite successfully overcoming the negative impact of hyperinflation accounting adjustment of QAR1.3 billion (USD356 million).
Total Assets as at 30 September 2022 recorded an increase of 5% from 30 September 2021 to reach QAR1,135 billion (USD312 billion), mainly driven by growth in high quality liquid assets. Strong customer deposit campaigns helped to increase customer deposits by 1% to reach QAR794 billion (USD218 billion) from 30 September 2021. As result of strong liquidity position of QNB Group, the loans to deposits ratio reached 96.1% as at 30 September 2022.
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% stake in Ecobank Transnational Incorporated (Ecobank), the leading pan-African bank based in Togo, a 38.6% 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, 54% 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 92% stake in QNB Indonesia.
Network expansion comes in support of the Group’s vision to become a leading bank in the Middle East, Africa, and Southeast Asia. In addition, the Bank is establishing a foothold in highly competitive markets, including Hong Kong, where the Group opened recently its first branch.
The Group started operating in Vietnam in 2015 , along with opening new branches in KSA and India in 2017
Proud to be the Official Middle East and Africa Supporter of the FIFA World Cup 2022™, QNB Group extends through its subsidiaries and associate companies to more than 30 countries across three continents providing a comprehensive range of advanced products and services.
The total number of employees is 27,000 operating through 1,000 locations, with an ATM network of more than 4,700 machines.
QNB Group has maintained its position as the highest-rated bank in Qatar and one of the highest rated banks in the world from leading credit rating agencies including Standard & Poor’s (A) and Moody’s (Aa3), 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.
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 through PR@qnb.com
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