Stretching the value of each Qatari Riyal

Doha, December 9th, 2013

QNB, the World's Strongest Bank, has launched its new fully enhanced Salary Account campaign, to build upon the successful implementation of a similar initiative earlier this year.

"We believe our new Salary Account Campaign is really different and unique. With the different packages, bundle of benefits, and most competitive interest rates built into this campaign, we're sure that our clients will enjoy a lot more, for a great deal less." Said Mrs. Heba Al-Tamimi, General Manger, QNB Group Retail Banking.

"This campaign is designed in such an innovative way to cater for each customer's specific needs. For example, whenever a customer adds comprehensive car insurance and credit life protection to their vehicle package, they benefit from an interest rate reduction thereby adding more value to the bundle. Customers can also benefit from the lowest interest rates in Qatar on personal loans of 3.45% along with one of the lowest rates on vehicle loans, at 1.99% only". She added.

To ensure that this offer will benefit all customers, mortgage loans will also be part of the campaign. Customers will receive as much as QR 10,000 in cash back in addition to the very low interest rate of 3.75% when they transfer their mortgage loans to us.

Existing and new customers whose salaries are transferred to their QNB accounts, will continue to enjoy a wide range of additional benefits including very affordable monthly payments on vehicle leasing, low vehicle insurance rates, no management or early settlement fees, credit card with no annual fees for life, and automatic enrollment in QNB's new Life Rewards Program, which is the most generous customer loyalty rewards program in Qatar.   

QNB is always looking for ways to reward its customers. This new initiative will help hard working individuals reap more rewards as a result of their salary working harder for them through the various incentives and packages on offer from QNB.

-Ends-

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 net profit, for the nine months ended 30 September 2013, of QR7.1 billion, up by 14.1% compared to the same period last year. This was driven by operating income, including the share of results of associates, which increased to QR10.9 billion, up by 29.0% compared to September 2012, demonstrating QNB Group's success in achieving strong growth across the range of revenue sources. Total assets increased by 24.5% since 30 September 2012 to QR437 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 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.

QNB Group opened a representative office in China and established a fully owned subsidiary in India under the name of "QNB (India) Private Limited".

With the addition of the new subsidiary in India and the new office in China, the Group's presence through its subsidiaries and associate companies increased to 26 countries providing a comprehensive range of advanced products and services. The total number of staff is almost 13,500 operating from over 570 locations, with an ATM network of over 1,200 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.

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) 44975704, Fax (+974) 44252589, email: PR@qnb.com.qa or visit QNB's website www.qnb.com.qa

© Press Release 2013