QNB named ‘best capitalised’ bank in Qatar
Doha, December 23, 2013
Qatar National Bank (QNB) said it has been named the best capitalised institution in the Middle East by Gulf Business Magazine’s Annual Survey 2013.
The bank was also named the second largest capitalised “Corporate” in the region, said the magazine in a statement.
The survey was carried out by the magazine in conjunction with market research agency Markaz.
The agency took into consideration the prevailing domestic economic trading conditions, the financial fundamentals and the business performance of companies over the past 12 months before making its final recommendations.
The group recorded a net profit of QR7.1 billion ($1.9 billion) for the nine months ended September 30, up 14.1 per cent compared to the same period last year.
In addition, total assets increased by 24.5 per cent from September 30 last year, to reach QR437 billion, the highest ever achieved by the group.
The group’s presence extends to 26 countries worldwide, with its new subsidiary in India and a new office in Shanghai. - TradeArabia News Service