For the second consecutive year, Qatar National Bank (QNB), the largest financial institution in the State of Qatar and the MENA region, was announced the Best Bank in the Middle East and Best Bank in Qatar at the Banker Middle East Industry Awards ceremony held recently in Dubai.
The Banker Middle East Industry Awards recognize the best performing institutions across the region. A study of audited financial results across 14 measures determines the best bank and fastest growing bank in each country, from this they decide the top 100 banks.
With QNB awarded the dual honor of being the Number 1 ranked bank in Qatar and the Middle East as well as being titled the Best Bank, this signifies that QNB has continued to deliver on being the dominant market player, enhancing shareholder value and being the institution of choice for customers, employees, investors and suppliers among others.
2011 was noted as being QNB’s most successful year yet. Moreover, the Bank has managed to continue to report strong financial results with net profit up by 32% to QR7.5 billion and total asset up 35% to QR302 billion. What’s more, QNB has been the beneficiary of a number of awards this year, with the latest two joining an ever increasing list. Each one of these Top Tier awards cement QNB’s place as a leading international bank.
Also with the tremendous growth demonstrated by QNB in recent years, it has also been rated the MENA region’s leading banking institution in 2012 in terms of brand value by Brand Finance and The Banker Magazine. Having strong brand recognition and high brand value has been a key undertaking of QNB.
QNB has one of the highest ratings in the MENA region. These ratings demonstrates the Bank’s strong financial position, systemic importance and its overall asset quality. QNB’s rating from leading international rating agencies including Standard & Poor’s, Capital Intelligence, Fitch and Moody’s is the highest or on par with a small group of leading financial institutions in the region.
QNB Group, subsidiaries and associate companies today operate in 24 countries around the world, through 335 branches and offices, supported by more than 650 ATMs, and employing almost 7,000 staff.
Established in 1964 as the first Qatari owned bank, QNB Group has its ownership split (50%) between by the Government of Qatar via Qatar Investment Authority (QIA) and the public. The largest bank in Qatar, QNB is listed on the Qatar Exchange (QE).
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