By: Khushboo Punjabi
Doha, Qatar – 9 December 2019: The rapid pace of innovation and digital transformation is forcing the financial service sectors to change and evolve around the globe. Abdulla Mubarak Al Khalifa, Acting Group Chief Executive Officer of QNB said that Qatar’s banking sector is well capitalised, with high asset quality and robust profitability and now has accepted the challenge to embrace the change and become a part of future of banking even if it means to disrupt.
According to the Peninsular, QNB is the largest banking institution in the Middle East and Africa, it is also one of leading banks in the Middle East and Africa and South-East Asia (MEASEA). QNB’s assets grew to an all-time high of $250bn. This growth was naturally driven by strong loan and deposit growth in Qatar as well as across our international footprint.
“We continue to maintain high asset quality and efficiency. As a result, we have been able to deliver stellar consistent sustainable profitability. Our nine months profits this year stood at $3.1bn and we are on the path to another record year. Our consistent sustainable performance is also demonstrated by our brand value. Brand Finance ranks us as the most valuable banking brand in the Middle East and Africa with a brand value of more than $5bn. Today, we are one of the top 500 global brands across all industries.” said AI Khalif .