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 spanning three continents. The bank’s ownership is evenly divided between the Qatar Investment Authority and members of the public.
Qatar National Bank (Q.P.S.C.) 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. The two currencies in circulation at the time were the Indian rupee and British pound. As Qatar’s population continued increasing throughout the century, QNB started establishing branches in other parts of the country.
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, in the next year, introduced VISA cards for its clients. By 2015, it had established 76 branches in Qatar. Qatar National Bank (QNB) controls an 82.59 percent stake in Bank QNB Indonesia
QNB Group, established in 1964, has steadily grown to become the largest financial institution in the Middle East and Africa (MEA) region.
For the year ended 31 December 2020, the Group’s Net Profit reached QAR12.0 billion (USD3.3 billion).
QNB became the first banking institution to record total assets of QAR1.0 trillion (USD282 billion), for the first time in history of the region, representing an increase of 9% from last year.
QNB’s disciplined approach towards execution of its long-term strategy enabled the Group to achieve the One Trillion Qatar Riyal Total Asset.
In 2016, QNB Group completed the acquisition of 99.88% stake in Turkey’s Finansbank A.Ş. (now known as QNB Finansbank), the 5th largest privately owned universal bank. In 2013, the Group successfully completed the acquisition of the second largest private bank in Egypt, QNB ALAHLI (QNBAA) with existing ownership of 95.00%. The Group has also extended its regional footprint by acquiring stakes in various financial institutions including a 20% stake in Ecobank Transnational Incorporated (Ecobank), the leading pan-African bank based in Togo, a 39% stake in the Jordan-based, the Housing Bank for Trade and Finance (HBTF), 40% of Commercial Bank International (CBI) based in the United Arab Emirates (UAE), 99.99% of QNB Tunisia, 54% of the Iraqi-based Al-Mansour Investment Bank, and a 20% stake in the Al Jazeera Finance Company in Doha. QNB Group also retains a 51% stake in QNB-Syria, and a 92 % stake in QNB Indonesia.
Network expansion comes in support of the vision to become a leading bank in the Middle East, Africa, and Southeast Asia, in addition to establishing a foothold in highly competitive markets. This includes most recently: Hong Kong Branch in 2019 (HKMA regulatory approval issued).
The Group started operating in Vietnam in 2015 and Myanmar in 2016, along with opening new branches in KSA and India in 2017 and a second branch in Kuwait in 2018.
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 28,000 serving 20 million customers operating through 1,000 locations, with an ATM network of more than 4,300 machines.
QNB 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) and Fitch (A+). The Bank has also been the recipient of many awards from leading international specialised financial publications.
The Group provides an array of investment banking services through its subsidiary, QNB Capital, to corporate, government and institutional clients within Qatar and globally. QNB Capital has one of the best corporate finance teams in the GCC region offering extensive transaction experience and in-depth advisory – including mergers and acquisitions, equity and debt capital markets, and project financing advisory. The Group also offers brokerage services through its subsidiary, QNB Financial Services (QNB FS), the first independently regulated, licensed brokerage company launched by a bank in Qatar. QNB FS offers a multi-market, multi-currency trading platform with access to several markets.
Based on the Group’s consistent strong financial performance and its expanding international presence, QNB is currently ranked as the most valuable bank brand in the Middle East and Africa, according to Brand Finance Magazine.
QNB Group has an active community support program and sponsors various social, educational and sporting events.
For further information, please contact QNB’s Public Relations Department at (+974) 4497 5704, Fax (+974) 4425 2589, email PR@qnb.com
Qatar National Bank (Q.P.S.C.) World Wide Branches
QNB International Network
Middle East
GCC
- *QNB Representative Offices
- **Associates, Subsidiaries and Affiliate
Qatar National Bank (Q.P.S.C.) Data leak
A leak of data from the bank was made public in April 2016. The leaked files were published on Cryptome.
The files contained the personal data of the bank’s clients as well as credit card information and passwords. The leak was divided into folders for individual groups of clients; these included Qatar’s Al Thani family, state security officials, staff of Al Jazeera Media Network, the news organisation endowed by the Qatari state, former Qatari national intelligence agency Mukhabarat, UK’s currently active foreign intelligence counterpart MI6 and their nondescript French and Polish counterparts
