Doha, 20 May 2013 - QNB Group, the World's Strongest Bank, has received all regulatory approvals to establish a fully owned subsidiary under the name of "QNB (India) Private Limited", which is expected to commence its operations during the 3rd quarter of 2013.

QNB (India) will take the role of extending consultancy and advisory services in the field of investment and finance for the Middle East companies that are willing to establish businesses and/ or invest in India.

As part of its international expansion strategy, QNB Group is seen to always seek presence and competition in leading markets. The economy of India is the tenth-largest in the world by nominal GDP (Gross Domestic Product) and the third-largest by PPP (Purchasing Power Parity).

About QNB Group
Qatar National Bank (QNB Group) was 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 the largest bank in the Middle East and North Africa Region and is by far the leading financial institution in the country with a market share exceeding 45% of banking sector assets.

Bloomberg Markets, the leading provider of Business, Financial and Economic news has ranked QNB as the World's Strongest Bank in its 2012 ranking. The 78 banks in Bloomberg's ranking list included some of the largest and most renowned financial institutions in the world, with QNB being the only bank from the MENA Region. 

The Group recorded a net profit of QR2.1 billion during the first quarter of 2013, up by 6.7% compared to the same period last year, demonstrating QNB Group's success across business activities and the ability to achieve strong growth in profitability for the benefit of shareholders. Total assets increased by 22.2% since 31 March 2012 to QR380 billion, the highest ever achieved by the Group.

QNB Group continued to witness robust international expansion as the Group successfully completed the acquisition of a controlling stake in Egypt's NSGB amounting to 97.12% during Q1, 2013. 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), 40% in Commercial Bank International (CBI) based in the United Arab Emirates (UAE), 99.96% of the QNB-Tunisia, 51% in the Iraqi-based Mansour Bank, 49% of the Libyan based Commerce & Development Bank and 20% stake in Al Jazeera Finance Company in Doha. QNB Group also retains 51% stake in QNB-Syria and a 70% stake in QNB Kesawan in Indonesia.

With the acquisition of NSGB, the Group's presence through its subsidiaries and associate companies increased to 25 countries providing a comprehensive range of advanced products and services. The total number of staff exceeded 13,000 operating from over 560 locations, with an ATM network exceeding 1,150 machines.

The Group provides an array of investment banking services through its subsidiary, QNB Capital, to corporate, government and institutional clients within Qatar and globally. QNB Capital has one of the best corporate finance teams in the GCC region offering extensive transaction experience and in depth advisory - including mergers and acquisitions, equity and debt capital markets, and project financing advisory. The Group also offers brokerage services through its subsidiary, QNB Financial Services (QNB FS), the first independently regulated, licensed brokerage company launched by a bank in Qatar.  QNB FS offers a multi-market, multi-currency trading platform with access to several markets.

QNB Group is among the highest rated regional banks from leading credit rating agencies including Standard & Poor's (A+), Moody's (Aa3), Fitch (A+), and Capital Intelligence (AA-). The Bank has also been the recipient of many awards from leading international specialized financial publications.

Based on the Group's continuous strong performance and the expanding international presence, the bank is currently ranked as the most valuable brand in the MENA region, with a current world ranking of 120 in 2013.

© Press Release 2013