Since its establishment in 1964, QNB Group has steadily grown to become the largest financial institution in the Middle East and Africa (MEA) region.
Net profit for the six months ended 30 June 2023 reached QAR7.6 billion (USD2.1 billion), an increase of 8% compared to same period last year. Operating Income increased by 14% to reach QAR18.5 billion (USD 5.1 billion) underpins Group’s continued successful efforts in maintaining growth across a range of revenue lines.
Total Assets as at 30 June 2023 reached QAR1,202 billion (USD330 billion), an increase of 7% from 30 June 2022, mainly driven by good growth in loans and advances by 7% to reach QAR819 billion (USD225 billion). Strong inflow of customer deposits helped to increase deposit base by 5% to reach QAR836 billion (USD230 billion) from 30 June 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.
QNB Group extends through its subsidiaries and associate companies to more than 28 countries across three continents providing a comprehensive range of advanced products and services.
The total number of employees is 29,000 operating through 900 locations, with an ATM network of more than 4,900 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+) Moody’s (Aa3), and (A) from Fitch, 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 locally and through the countries where it operates.
For further information, please contact QNB’s Public Relations Department through PR@qnb.com
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