QNB - Best Asset Manager

QNB Capital - Best Local Investment Bank

Doha, 12 March 2011 -QNB Group picked up two top awards at the 3rd annual emeafinance Middle East Banking Achievement Awards and charity dinner held at the Jumeirah Beach Hotel in Dubai.

QNB was named the Best Asset Manager and QNB Capital which is the investment arm of QNB Group was named Best Local Investment Bank at the awards ceremony, which recognizes the success of leading banks across the Middle East in driving the growth of financial services in their markets.

The honorees included banks in the Middle East that, despite dramatic economic turns in the region overall, are still delivering impressive results, boasting rising profits and expanding within the region and internationally, led by prudent and effective balance sheet management and long-term strategies to deliver positive dividends to shareholders.

At the end of 2010, QNB Group's Net Profit exceeded QR5.7 billion, an increase of 35.8% over 2009, demonstrating its ability to record exceptional growth for the benefit of shareholders, with the return on average equity reaching 28.8% for 2010 compared to 25.4% for 2009.

Total Assets increased by 24.6% to reach QR223.4 billion. Loans and advances and financing activities reached QR131.7 billion, representing an increase of 21.1%, with the ratio of non-performing loans to total loans standing at 0.9% by December 2010, a clear indication of the Bank's success in implementing effective risk management procedures to maintain a high quality loan portfolio.

Customer deposits and unrestricted investment accounts in 2010 increased by 31.5% to reach QR165.5 billion, which has positively impacted liquidity as the loans to deposits ratio stood at 80% for 2010, compared to 86% for 2009.

QNB Group continued to be the country's leading player in asset and wealth management in 2010 and also facilitated significant transactions in the United Arab Emirates and Oman, resulting in growth of Assets under Management by 28% to QR13.0 billion.

In line with its position in Qatar, QNB Asset Management launched Contract for Difference (CFD) in 2010, the first product of its kind in the country enabling customers to hedge movement in share prices over an agreed period.

QNB Group is keen on enhancing service quality and providing customers with a broader range of distinctive and innovative products that cater to their growing needs. These include numerous advancements covering electronic banking, including channel diversification and augmentation, as well as the development of traditional retail banking services and the expansion of its physical network in Qatar and abroad.

The Bank increased its branch network in Oman and Sudan to three locations to meet the requirements of increasing activities in each country. QNB-Syria increased its physical network to 15 branches across various provinces of the country. QNB Group also acquired a majority stake in QNB-Syria, which increased its capital to $300 million from $100 million during the year.  

A branch was also recently established in Mauritania which brings the Bank's presence in North Africa up to five countries, including Tunisia, Sudan, Libya and Algeria.

Regulatory approvals were also granted to establish two branches in Lebanon, which will further enhance QNB Group's presence in the Arab Levant region, supported by QNB-Syria and in Jordan and Palestine through the Group's 34.4% stake in The Housing Bank for Trade and Finance.

With the addition of Lebanon, the number of countries in which QNB Group and its associate companies operate around the world would increase to 24 countries.

QNB's leading market position and its ability to deliver sustained growth across all activities is supported by the leading international ratings agencies including Standard & Poor's, Capital Intelligence, Fitch and Moody's which assign QNB ratings that are the highest and on par with a small group of leading financial institutions in the region.

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About QNB
Qatar National Bank (QNB), 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 has steadily grown to be among the largest banks in the region and is by far the leading financial institution in the country, with a market share approaching 40% of banking sector assets.

QNB has the largest distribution network in Qatar, comprising 43 branches and offices in addition to 16 Islamic branches and offices operated by QNB Al Islami, and more than 175 ATMs.

QNB was the first conventional bank in Qatar to offer Shari'a-compliant banking products and services through QNB Al Islami, established in 2005.

QNB's international presence is rapidly expanding to include new locations around the world to supplement the long established branches in London and Paris.  Currently QNB has presence in 24 countries including branches in Yemen, Oman Kuwait & Singapore as well as Representative Offices in Iran & Libya and an Islamic branch in Sudan. 

QNB has also extended its regional reach by acquiring shares in various financial institutions in the MENA region as well as a 49% stake in QNB-Syria, a private stock company established jointly with other Syrian private and public sector institutions which started operations mid November 2009.

QNB Capital was established in 2008, providing an array of investment banking services to corporate, government and institutional clients within Qatar and globally. These include one of the best corporate finance teams in the GCC region offering extensive transaction experience, in depth advisory services - including mergers and acquisitions, equity, debt and project advisory - as well as first-class research capabilities.

QNB is among the highest rated regional banks from leading credit rating agencies including Standard & Poor's, Moody's, Fitch, and Capital Intelligence. The Bank has also been the recipient of many awards from leading international specialized financial publications.

QNB has an active community support program and sponsors various social, educational, and sporting events

For further information, please contact
QNB's Public Relations Department
Tel: (+974) 44252477
Fax (+974) 44252589
Email: PR@qnb.com.qa  
QNB's website www.qnb.com.qa

© Press Release 2011