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.[4]
 | |
| Company type | Public |
|---|---|
| QE: QNBK | |
| Industry | Banking and Financial services |
| Founded | June 6, 1964 as Qatar National Bank[1] |
| Headquarters | , |
Area served | Worldwide[2] |
Key people |
|
| Products | Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, securities, asset management |
 US$9.6 billion (2022) [3] | |
| US$4.4 billion (2022) [3] | |
| Total assets | US$327 billion (2022) [3] |
| Total equity | US$29.0 billion (2022) [3] |
Number of employees | 29,000 (2019) |
| Parent | Qatar Investment Authority (50%) |
| Website | www |
History
editQNB was founded on 6 June 1964 as the country's first domestically-owned commercial bank. It had 35 employees in its first year and was initially headquartered in a government-owned building in Qatar's capital city, Doha.[5] The two currencies in circulation at the time were the Indian rupee and British pound. As Qatar's population continued increasing through the century, QNB started establishing branches in other parts of the country.[5]
In 1974, the first branches outside of Doha were opened in Al Khor and Mesaieed. The bank installed its first ATMs in 1988 in its Doha branches, and, in the next year, introduced VISA cards for its clients.[5]
In 2013, QNB acquired Egypt's then-largest private-sector bank, National Société Générale Bank, from Société Générale, and rebranded it QNB Al Ahli.[6] By 2015, it had established 76 branches in Qatar.[5] In 2016, QNB acquired Istanbul-based Finansbank from National Bank of Greece. As of 2017, QNB also owned an 82.59 percent stake in Bank QNB Indonesia.[7]
For the nine months ended September 30, 2020, net profit was QR 9.5 billion (US$ 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
edit
References
edit- ^ "Qatar National Bank". Forbes. Retrieved 6 July 2015.
- ^ "About QNB". Qatar National Bank. Retrieved 6 July 2015.
- ^ a b c d "Financial Results For The Year Ended 31 December 2022". QNB Group. Retrieved 1 April 2023.
- ^ "فروع بنك قطر الوطني QNB فى قطر". 10 November 2020. Archived from the original on 10 November 2020. Retrieved 10 July 2022.
- ^ a b c d "50 years of national pride". Gulf Times. 9 June 2014. Retrieved 6 July 2015.
- ^ "QNB Shareholder's History". QNB. Retrieved 19 December 2024.
- ^ "How embargo affects Qatar investment in Indonesia". The Jakarta Post. Retrieved 27 December 2018.
- ^ "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.
- ^ "QNB Unifies Its Brand to Enhance Global Presence". PR Newswire. 14 October 2024.