Doha, 24 October 2017 - QNB Group, the largest financial institution in the Middle East and Africa, once more proved its performance, strength, and stability by leading The Banker’s list of the top 100 Arab Banks for 2017.
The recognition was based on QNB being ranked number one as the region’s largest bank by Tier 1 capital, featuring a growth by more than 20%, compared to the same period last year. The Bank maintains its commitment to long-term and prudent growth of Tier 1 capital, which continues to increase despite several challenges.
The group wrapped up the past nine months ended 30 September, achieving a net profit of QAR 10.3 billion, up by 6% from September 2016. Total assets increased to QAR 792 billion, up by 11%. This was driven by a growth rate of 14% in loans and advances to reach QAR 579 billion.
The year 2017 has witnessed more astounding achievements for QNB, which has maintained its ranking of the most valuable banking brand in the Middle East and Africa region, according to the annual survey carried out by Brand Finance and published by The Banker magazine.
QNB brand was confirmed among the World’s Top 500 Banking Brands, representing an increase to rise to the 60th place globally, in addition to attaining the highest rating of AA+ in brand strength, making it the only Qatari banking brand among the world’s top 100.
Commenting on the recent successful accomplishment , Mr. Ali Al-Kuwari, QNB Group CEO, said: “We are proud to lead the list of the top 100 Arab Banks, another triumph that proves the steadiness of our economic performance, thanks to the healthy management strategies we are following. There is no doubt that the Bank, being the largest in Qatar and the leading in the region, keeps emphasizing the significance of implementing a strategic planning towards globalization.”
Mr. Al Kuwari added: “QNB Group has already started on bringing to reality its aspiration of becoming ‘a leading bank in the Middle East, Africa and Southeast Asia (MEASEA) by 2020.’”
The 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 (AA-), and Capital Intelligence (AA-).
QNB Group is present, through its subsidiaries and associate companies, in more than 31 countries across three continents providing a comprehensive range of products and services. QNB Group staff exceeds 27,800 operating through 1,300 locations, with a network of more than 4,200 ATMs.