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Thursday, 23 May 2013
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QNB Group officially welcomes Indian Republic

QNB Group officially welcomes Indian Republic
Posted by on May 20, 2013 in Banking, Finance & Insurance | 0 comments
QNB Group, the World’s Strongest Bank, has received all regulatory approvals to establish a fully owned subsidiary under the name of “QNB (India) Private Limited”, which is expected to commence its operations during the 3rd quarter of 2013. QNB (India) will take the role of extending consultancy and advisory services in the field of investment and finance for the Middle East...
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QNB Group: Qatar’s banking system is robust with good asset quality

QNB Group: Qatar’s banking system is robust with good asset quality
Posted by on May 18, 2013 in Banking, Finance & Insurance | 0 comments
The banking system in Qatar has been robust, with a compounded annual growth rate (CAGR) of 20% in assets from March 2008 – March 2012 and another 20% in the year to March 2013. Higher energy prices and increased gas production have funded a large public spending program, which has driven credit growth and resulted in overall asset gains, according to QNB Group’s soon to be...
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QNB Group: A free trade agreement could further boost Inter-Arab Trade

QNB Group: A free trade agreement could further boost Inter-Arab Trade
Posted by on May 11, 2013 in Banking, Finance & Insurance | 0 comments
The trade of the 18 countries in the Greater Arab Free Trade Area (GAFTA) grew 11% in 2012 to US$2.1trn, according new IMF trade data. This built on two prior years of strong trade growth of over 20%. However, most of the increase is the result of higher hydrocarbon prices rather than increases in the real volume of trade, according to QNB Group. GAFTA has a high trade surplus versus...
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QNB tops the World’s Strongest Banks on Bloomberg’s Markets’ list

QNB tops the World’s Strongest Banks on Bloomberg’s Markets’ list
Posted by on May 5, 2013 in Banking, Finance & Insurance | 0 comments
Bloomberg Markets, the leading provider of Business, Financial and Economic news has released its 2012 ranking of the World’s Strongest Banks, in which QNB has ranked as Number 1. The 2012 ranking included 78 banks worldwide, with QNB being the only bank in the MENA Region. Commenting on the 2012 ranking Mr. Ali Shareef Al Emadi (pictured), QNB’s GCEO stated “we are very pleased...
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QNB Group: Sub-Saharan Africa boom creates opportunities for GCC investors

QNB Group: Sub-Saharan Africa boom creates opportunities for GCC investors
Posted by on May 4, 2013 in Banking, Finance & Insurance | 0 comments
Sub-Saharan Africa has been experiencing strong growth in recent years, which is expected to continue. This boom creates an opportunity for GCC corporations and investors, according to QNB Group, as the region is well endowed with resources and people, but largely lacks the capital needed to fund its development. The IMF’s latest World Economic Outlook forecasts that Sub-Saharan...
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QNB Group: IMF Outlook may be optimistic and MENA growth bucks global trends

QNB Group: IMF Outlook may be optimistic and MENA growth bucks global trends
Posted by on Apr 27, 2013 in Banking, Finance & Insurance | 0 comments
The IMF has released its latest edition of the World Economic Outlook (WEO) and has revised down its projections for 2013 global growth by 0.2% points to 3.3%, yet again pushing back the expected recovery. The IMF’s forecasts for 2013 growth were revised down in each of its last three quarterly updates to the WEO, from a peak forecast of 4.1% made a year ago. The IMF now does not...
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Cyprus bailout raises concerns about the Euro and Eurozone sovereign debt

Cyprus bailout raises concerns about the Euro and Eurozone sovereign debt
Posted by on Apr 20, 2013 in Banking, Finance & Insurance | 0 comments
The Cyprus financial crisis has had a surprising impact on the outlook for the Eurozone, according to QNB Group. Even though the country only accounts for 0.2% of Eurozone GDP, Cyprus’ bailout has illustrated the need for further reform and has set dangerous precedents for future Eurozone bailouts. While optimism has prevailed so far in 2013, the escalation of the Cyprus situation...
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QNB Group: Government spending will be higher than budgeted in 2013/14

QNB Group: Government spending will be higher than budgeted in 2013/14
Posted by on Apr 13, 2013 in Banking, Finance & Insurance | 0 comments
The Ministry of Economy and Finance recently released its budget for the fiscal year 2013/14, which runs from April 1st – March 31st of the following year. An oil price assumption of US$65/barrel was used, the same as last year, and on this basis the ministry assumes revenue of US$60bn, of which it plans to spend US$58bn. However, QNB Group expects oil prices to be considerably...
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QNB Group: Qatar’s strong exports and public expenditure will support diversification

QNB Group: Qatar’s strong exports and public expenditure will support diversification
Posted by on Apr 9, 2013 in Banking, Finance & Insurance | 0 comments
Qatar’s preliminary full year 2012 GDP data was released at the end of March. It showed that real GDP grew 6.2%, which was 0.4% points stronger than QNB Group had projected. The non-oil and gas sector was the main driver of growth in 2012, as QNB Group had expected, expanding by 10.0%. The share of the non-oil and gas sector in the overall economy increased to 42.2% in 2012 from...
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QNB Group announces financial results for the three months ended 31 March 2013

QNB Group announces financial results for the three months ended 31 March 2013
Posted by on Apr 7, 2013 in Banking, Finance & Insurance | 0 comments
QNB Group, the leading financial institution in the Middle East and North Africa region, has announced its financial results for the three months ended 31 March 2013. A net profit of QR2.1 billion was achieved, up by 6.7% compared to the same period last year, demonstrating QNB Group’s success in achieving robust growth across business activities and the ability to record a strong...
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QNB’ GCEO welcomes NSGB Egypt to the group

QNB’ GCEO welcomes NSGB Egypt to the group
Posted by on Apr 6, 2013 in Banking, Finance & Insurance | 0 comments
In a statement to the press, Mr. Ali Shareef Al Emadi, QNB Group Chief Executive Officer, presented an overall vision of the Group’s future plans to cooperate with NSGB team to continue its sustainable growth over the coming years. He also highlighted QNB Group’s new strategy to enter into the Egyptian banking sector through buying a share of 97.1% of in NSGB. At the outset, Mr. Ali...
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QNB Group: UK strengthens ties with GCC through hard economic times

QNB Group: UK strengthens ties with GCC through hard economic times
Posted by on Mar 30, 2013 in Banking, Finance & Insurance | 0 comments
The UK economy is still struggling to recover from the effects of the global economic crisis in 2008-09. Nonetheless, its importance as a trade and investment partner of the GCC is growing, according to QNB Group. The UK’s GDP declined by 6.3% from April 2008 to June 2009. Recovery has been sluggish and, four years on, the economy has still not regained the lost ground and is unlikely...
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