QNB Group tops The Banker's 100 Arab Banks list for 2017

25/10/2017 06:26 AST

QNB Group, the largest financial institution in the Middle East and Africa, once more proved its performance, strength, and stability by leading The Banker's list of the top 100 Arab Banks for 2017. The recognition was based on QNB being ranked number one as the region's largest bank by Tier 1 capital, featuring a growth by more than 20 percent, compared to the same period last year.

The Bank maintains its commitment to long-term and prudent growth of Tier 1 capital, which continues to increase despite several challenges.

The group wrapped up the past nine months ended 30 September, achieving a net profit of QR10.3bn, up by 6 percent from September 2016. Total assets increased to QR792bn, up by 11 percent. This was driven by a growth rate of 14 percent in loans and advances to reach QR579bn.

The year 2017 has witnessed more astounding achievements for QNB, which has maintained its ranking of the most valuable banking brand in the Middle East and Africa region, according to the annual survey carried out by Brand Finance and published by The Banker magazine. QNB brand was confirmed among the World's Top 500 Banking Brands, representing an increase to rise to the 60th place globally, in addition to attaining the highest rating of AA+ in brand strength, making it the only Qatari banking brand among the world's top 100.

Commenting on the recent successful accomplishment , Ali Al Kuwari, QNB Group CEO, said: "We are proud to lead the list of the top 100 Arab Banks, another triumph that proves the steadiness of our economic performance, thanks to the healthy management strategies we are following.

There is no doubt that the Bank, being the largest in Qatar and the leading in the region, keeps emphasizing the significance of implementing a strategic planning towards globalization." Al Kuwari added: "QNB Group has already started on bringing to reality its aspiration of becoming 'a leading bank in the Middle East, Africa and Southeast Asia by 2020."

The Peninsula