QNB Group

Welcome to the fascinating world of QNB Group. In this article, we will thoroughly explore all aspects related to QNB Group, from its origins to its impact on today's society. Over the next few lines, we will discover what makes QNB Group so relevant, what the current trends are and where it is headed in the future. Whether you are an expert in QNB Group or just starting to get familiar with the topic, this article will provide you with a complete and up-to-date overview of everything you need to know about QNB Group. Get ready to immerse yourself in a journey of knowledge and discovery about QNB Group!

Qatar National Bank Q.P.S.C.
Company typePublic
QE: QNBK
IndustryBanking and Financial services
FoundedJune 6, 1964 (1964-06-06) as Qatar National Bank[1]
Headquarters
Doha
,
Qatar
Area served
Worldwide[2]
Key people
ProductsCredit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, securities, asset management
Increase US$9.6 billion (2022) [3]
Increase US$4.4 billion (2022) [3]
Total assetsIncrease US$327 billion (2022) [3]
Total equityIncrease US$29.0 billion (2022) [3]
Number of employees
Increase 29,000 (2019)
ParentQatar Investment Authority (50%)
Websitewww.qnb.com

Qatar National Bank (QNB Group) (Arabic: بنك قطر الوطني) is a Qatari multinational commercial bank headquartered in Doha, Qatar. It was founded in 1964 and currently has subsidiaries and associates in 31 countries on three continents. The bank's ownership is evenly divided between the Qatar Investment Authority and members of the public.[4]

History

QNB was founded on 6 June 1964 as the country's first domestically-owned commercial bank. It had 35 employees in its first year and was initially headquartered in a government-owned building in Qatar's capital city, Doha.[5] The two currencies in circulation at the time were the Indian rupee and British pound. As Qatar's population continued increasing through the century, QNB started establishing branches in other parts of the country.[5]

In 1974, the first branches outside of Doha were opened in Al Khor and Mesaieed. The bank installed its first ATMs in 1988 in its Doha branches, and introduced VISA cards for its clients the next year.[5]

In 2013, QNB acquired Egypt's then-largest private-sector bank, National Société Générale Bank, from Société Générale, and rebranded it QNB Al Ahli.[6] By 2015, it had established 76 branches in Qatar.[5] In 2016, QNB acquired Istanbul-based Finansbank from National Bank of Greece. As of 2017, QNB also owned an 82.59 percent stake in Bank QNB Indonesia.[7]

On September 30, 2020, net profit for 2020 was QR 9.5 billion (US$ 2.6 billion). Total assets also increased by 8% since September 30, 2019, to reach QR986 billion (US$271 billion).[8]

In 2024, QNB streamlined its brand identity in two of its main overseas markets, by phasing out the brands Al Ahli in Egypt and Finansbank in Turkey.[9]

See also

icon Banks portal

References

  1. ^ "Qatar National Bank". Forbes. Retrieved 6 July 2015.
  2. ^ "About QNB". Qatar National Bank. Retrieved 6 July 2015.
  3. ^ a b c d "Financial Results For The Year Ended 31 December 2022". QNB Group. Retrieved 1 April 2023.
  4. ^ "فروع بنك قطر الوطني QNB فى قطر". 10 November 2020. Archived from the original on 10 November 2020. Retrieved 10 July 2022.
  5. ^ a b c d "50 years of national pride". Gulf Times. 9 June 2014. Retrieved 6 July 2015.
  6. ^ "QNB Shareholder's History". QNB. Retrieved 19 December 2024.
  7. ^ "How embargo affects Qatar investment in Indonesia". The Jakarta Post. Retrieved 27 December 2018.
  8. ^ "9.5 مليار ريال.. أرباح مجموعة بنك قطر الوطني في الشهور التسعة الأولى من العام الجاري - جريدة الراية". 15 October 2020. Archived from the original on 15 October 2020. Retrieved 3 August 2022.
  9. ^ "QNB Unifies Its Brand to Enhance Global Presence". PR Newswire. 14 October 2024.