QNB Group, the World's Strongest Bank, has received approval to establish a fully owned subsidiary in India called QNB (India) Private Limited. The new subsidiary is expected to commence operations in the third quarter of 2013 and will provide consultancy and advisory services in investment and finance to Middle Eastern companies seeking to establish businesses or invest in India. QNB Group continues its international expansion strategy and sees India as an important market given its large and growing economy.
1.
Qatar National Bank SAQ Tel: (+974) 4440 7407
P.O. Box 1000, Doha, Qatar Fax:(+974) 4441 3753 qnb.com.qa
Press
Release
QNB Group officially welcomes Indian Republic
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 companies that are willing to
establish businesses and/ or invest in India.
As part of its international expansion strategy, QNB Group is seen to always seek
presence and competition in leading markets. The economy of India is the tenth-
largest in the world by nominal GDP (Gross Domestic Product) and the third-largest
by PPP (Purchasing Power Parity).
About QNB Group
Qatar National Bank (QNB Group) was established in 1964 as the country’s first Qatari-owned
commercial bank, has an ownership structure split between the Qatar Investment Authority (50%) and
the private sector (50%).
QNB Group has steadily grown to be the largest bank in the Middle East and North Africa Region and
is by far the leading financial institution in the country with a market share exceeding 45% of banking
sector assets.
Bloomberg Markets, the leading provider of Business, Financial and Economic news has ranked QNB
as the World’s Strongest Bank in its 2012 ranking. The 78 banks in Bloomberg’s ranking list included
some of the largest and most renowned financial institutions in the world, with QNB being the only
bank from the MENA Region.
The Group recorded a net profit of QR2.1 billion during the first quarter of 2013, up by 6.7% compared
to the same period last year, demonstrating QNB Group’s success across business activities and the
2. ability to achieve strong growth in profitability for the benefit of shareholders. Total assets increased by
22.2% since 31 March 2012 to QR380 billion, the highest ever achieved by the Group.
QNB Group continued to witness robust international expansion as the Group successfully completed
the acquisition of a controlling stake in Egypt's NSGB amounting to 97.12% during Q1, 2013. The
Group has also extended its regional reach by acquiring stakes in various financial institutions
including 35% stake in the Jordan-based, the Housing Bank for Trade and Finance (HBTF), 40% in
Commercial Bank International (CBI) based in the United Arab Emirates (UAE), 99.96% of the QNB-
Tunisia, 51% in the Iraqi-based Mansour Bank, 49% of the Libyan based Commerce & Development
Bank and 20% stake in Al Jazeera Finance Company in Doha. QNB Group also retains 51% stake in
QNB-Syria and a 70% stake in QNB Kesawan in Indonesia.
With the acquisition of NSGB, the Group’s presence through its subsidiaries and associate companies
increased to 25 countries providing a comprehensive range of advanced products and services. The
total number of staff exceeded 13,000 operating from over 560 locations, with an ATM network
exceeding 1,150 machines.
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.
QNB Group is among the highest rated regional banks from leading credit rating agencies including
Standard & Poor’s (A+), Moody’s (Aa3), Fitch (A+), and Capital Intelligence (AA-). The Bank has also
been the recipient of many awards from leading international specialized financial publications.
Based on the Group’s continuous strong performance and the expanding international presence, the
bank is currently ranked as the most valuable brand in the MENA region, with a current world ranking
of 120 in 2013.
3.
Qatar National Bank SAQ Tel: (+974) 4440 7407
P.O. Box 1000, Doha, Qatar Fax:(+974) 4441 3753 qnb.com.qa