They can literally run Kenya single handedly without collecting any tax from us …
for a whopping financial year!
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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 biggest bank in Qatar and leading financial institution in the Middle East and North Africa Region with a market share around 45% of banking sector assets.
Bloomberg Markets, the leading provider of Business, Financial and Economic news ranked QNB as “One of the World’s Strongest Banks” again in 2014.
The Global Finance Magazine ranked QNB as “One of The Top 50 Safest Banks in the World” in 2013. For two consecutive years, 2014 and 2015, the Bank was recognized as “The Best Bank in The Middle East” by Euromoney Magazine.
For the six months ended 30 June 2015, the Group recorded a net profit of QAR5.6 billion (USD1.5 billion), up by 10.2% compared to last year. Total assets increased by 9.7% from June 2014 to reach QAR511 billion (USD140.2 billion), the highest ever achieved by the Group. This was the result of a strong growth rate of 9.2% in loans and advances to reach QAR356 billion (USD97.8 billion).
QNB Group continues to witness robust international expansion. QNB has acquired a 20.0% stake (both ordinary and QNB convertible preference shares) in Ecobank Transnational Incorporated (Ecobank), the leading pan-African bank. In 2013, the Group successfully completed the acquisition of a controlling stake of the second largest private bank in Egypt, QNB ALAHLI (QNBAA), amounting to 97.12%. 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 QNB Tunisia, 51% in the Iraqi-based Mansour Bank, 49% of the Libyan based Bank of Commerce & Development and 20% stake in Al Jazeera Finance Company in Doha. QNB Group also retains 51% stake in QNB-Syria and an 83% stake in QNB Indonesia (previously known as QNB Kesawan). In 2013, QNB Group also opened a representative office in China and established a fully owned subsidiary in India under the name of “QNB India Private Limited”.
In March 2015, QNB Group officially started operating its “Qatar National Bank S.A.Q. Ho Chi Minh City Representative Office” in Vietnam.
The Group’s presence through its subsidiaries and associate companies extends to more than 27 countries across three continents providing a comprehensive range of advanced products and services. The total number of employees is more than 14,900 operating through more than 630 locations, with an ATM network of more than 1,340 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 (AA-), and Capital Intelligence (AA-). The Bank has also been the recipient of many awards from leading international specialised financial publications.
Based on the Group’s continuous strong financial performance and its expanding international presence, QNB is currently ranked as the most valuable bank brand in The Middle East and Africa, with a current world ranking of 79 in 2015 and a brand valuation of $2.6 billion according to Brand Finance Magazine.
QNB Group has an active community support program and sponsors various social, educational and sporting events.
For further information, please contact QNB’s Public Relations Department at (+974) 4497 5704, Fax (+974) 4425 2589, email: [email protected] or visit QNB’s website qnb.com.
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In Kenya its alot, but in the world stage, thats kids play. Apple in the quarter (oct.-dec. 2014) had a profit of US$ 18billion.
But why are they publishing their trading results in Kenya, are they opening an office here?
Assets valued at 140bn generating a profit of 1.5bn? Poor performance. Very poor 1%.
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i think its all in the name of the BIG SUMMIT. They probably are represented too
its a bank, not an investment co. kwa hizo assets kuna peoples deposits of which a % has to be kept liquid and not invested
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Are people’s deposits considered assets in banking?
hmmm very probabla. somebody is angling to flip over a small non-performing bank. Consolidated, First community, Dubai etc. typical Merali act, like what he is doing with Equatorial. we have a new generation of slippery businessmen
Total assets are a sum of liabilities and shareholders equity. Utakuta customer deposits on the liability side of the balance sheet
Whichever way, they arent doing fine. Its easier then to put the money (customer deposits) at equity bank and get their 2.5% interest.
Gava wants to combine Consolidated and National.
Gava ya Uhuru inataka kufanya vitu mingi Sana shida Ni cartels.
National Bank is said to be in a very precarious position, they’ve been dishing out big loans ovyo ovyo. They may need to get bailed out pretty soon like Mumias.
gava should pull the plug on national bank or sell that empty shell like obako did telcom. hii bank iwezi saidika it is the hyenas’ colony.
I could be wrong but I think deposits by people are treated as liabilities in a bank’s books…
COMPRENDE?