Doha 18 October 2011: QNB Group announced that it has entered into negotiation with DenizBank in Turkey towards the aim of acquiring a controlling stake.

The on-going negotiations are still in early stages and their success depends on the conformity of DenizBank business activities with QNB Group's international expansion strategy along with an agreement on a price that fairly reflects the financial position of DenizBank and the result of its operations.

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About QNB Group
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 Group has steadily grown to be among the largest banks in the Middle East and North Africa Region and is by far the leading financial institution in the country with a market share approaching 40% of banking sector assets and a distribution network of 61 branches and offices in addition to more than 200 ATMs.

QNB Group has witnessed rapid international expansion in the past few years and has established presence in over 24 countries worldwide including branches in France, Kuwait, UK, Mauritania, Oman, Singapore, Yemen and Lebanon.

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), 24% in Commercial Bank International (CBI) based in the United Arab Emirates (UAE), 50% of the Tunisian-Qatari bank, 23% in the Iraqi-based Mansour Bank and 20% stake in Al Jazeera Finance Company in Doha. QNB Group also retains 51% stake in QNB-Syria, a private stock company established jointly with other Syrian private and public sector institutions which started operations mid November 2009 and operates today more than 15 branches in the Syrian Republic.

QNB Capital, a subsidiary of QNB Group, 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 Financial Services (QNB FS) commenced trading on the Qatar Exchange in May 2011 and is the first independently regulated, licensed brokerage unit launched by a bank in Qatar.  QNB FS brokerage offers a multi-market, multi-currency trading platform with access to several GCC markets including Qatar, UAE, and Oman.  It also provides a trading solution for buying and selling securities on the US and European markets.  QNB FS' technology platform is enhanced by its in-house research team who provide fundamental research and analysis, sector reviews, and daily commentary on QE listed equities.  Its advisory and brokerage teams are structured to service institutional investors, mutual funds, high-net worth individuals, retail and corporate clients locally, regionally, and globally. 

QNB Group 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 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) 44252477,
Fax (+974) 44252589,
email: PR@qnb.com.qa  
or visit QNB's website www.qnb.com.qa

© Press Release 2011