QATAR: QNB Group in ‘Top 500’ …bank brands

QNB Tower
The QNB Group tower headquarters. QNB has once more figured among the ‘Top 500 banking brands in 2013’.

QNB Group has figured among the ‘Top 500 banking brands in 2013’ and was ranked 120 in a survey carried out by ‘Brand Finance’ and published by “The Banker” magazine, a Financial Times affiliate.

QNB Group, which is the leading financial institution in Qatar and the Mena region, has achieved an increase in the value of its brand to $1.31bn in 2013, up from $1.26bn in 2012.

QNB brand has thus figured among the world’s top 500 banking brands for the second consecutive year, re-emphasising the group’s “prominent role and outstanding performance” in the Mena region.

The ranking revealed that out of five Mena banking brands on the list, only QNB Group’s brand had achieved gains in value.

The value assessment process of banking brands on Brand Finance’s ranking depends on strict standards, taking into account the bank’s size, geographical presence, global and regional reputation, and its brand’s classification.

QNB Group’s brand has been classified ‘AA’. This classification differs from ratings issued by credit rating agencies as Brand Finance classification represents the “health and future growth potentials” of the brand based on the brand’s value and other indicators.

In recognition of QNB Group’s distinguished performance, the bank was previously listed among the world’s safest 50 banks. The bank has also won the ‘Best Bank in the Middle East’ award by “The Banker” as well as the ‘Bank of the Year – Qatar’ award in 2012 by Euromoney magazine, the ninth time QNB Group has received this prestigious award.

QNB Group was able to deliver record financial results for 2012, with a net profit reaching QR8.3bn, up 11.1% on 2011. The bank’s total assets stood at $101bn in 2012, up 21.5% on the previous year.

Currently, QNB Group has expanded its international presence to some 24 countries, while its branches, subsidiaries and associate companies employ more than 8,800 staff, offering services through almost 400 branches and offices along with an ATM network that exceeds 800 machines.

Source: Caye Global News, Gulf Times

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