Doha- 2 July, 2019 - QNB Group, the largest financial institution in the Middle East and Africa, continued its outstanding achievements by topping the Middle East and Africa (MEA) region, on the Banker magazine’s Top 1000 World Banks list issued recently.
QNB ranked number one as the region’s largest bank by Tier 1 capital of $22.5 billion for the 2018 period, a 12% increase over its 2017 figures, bolstered by a $2.8 billion additional Tier 1 perpetual capital note.
The Bank reported some of its best annual results ever during the review period supported by the success of its business strategy, with a global ranking of 75th in the list.
The recognition was based on a number of factors, including Pre-Tax Profits, Total Assets, Capital Assets Ratio, Return on Capital, Return on Assets, BIS Total %, NPL %, Loans to Assets Ratio, RWA Density and Cost/Income Ratio.
Commenting on this landmark achievement, Mr. Abdulla Mubarak Al Khalifa, Acting Chief Executive Officer at QNB Group said: “Being recognized as the first MEA’s financial institution in the top 1000 banks globally by a leading financial publication as internationally respected as The Banker Magazine is a truly important milestone. This is a testament to the Group’s steadfast commitment to excellence driven by our solid financial performance, overall asset quality, and increasing market share.
This new achievement reflects our commitment and spirit of leadership and innovation to bring to reality QNB Group’s aspiration of becoming ‘a leading bank in the Middle East, Africa and Southeast Asia (MEASEA) by 2020,” Mr. Abdulla concluded.
Earlier this year, QNB brand was recognized, once again, as the most valuable banking brand in the MEA, with a value worth US $5.04 billion, according to the annual report carried out by Brand Finance.
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’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 30,000 operating through 1,100 locations, with an ATM network of more than 4,400 machines.