Doha, 04 February 2012 - Qatar National Bank (QNB), the leading financial institution in the State of Qatar, today announced the launch of the dedicated QNB Mortgage Loan Center which will serve as a full service one-stop destination for all customers looking to secure mortgage financing in Qatar.
Whether its property for self use or as an investment, QNB will offer home and land financing at rates as low as 4.35%, the lowest in Qatar. Additionally, customers will receive free property evaluation report and free home care insurance for one full year.
Located at the QNB C-Ring Road branch, the Mortgage Loan Center will be staffed by specialized advisors who will work with customers and guide them from the initial application step until the process is completed. Customers interested in purchasing property for self use, or those investing in Qatar's lucrative real estate market will find QNB's Mortgage Loan Center to be the right partner.
The QNB Mortgage Loan Center was launched following the success of the QNB Vehicle Finance Center which provides a similar one-stop service for all customers seeking vehicle loans.
The Bank said in a statement that the primary objective of the consolidation of mortgage finance resources to the QNB Mortgage Loan Center was to accelerate and simplify the loan application and approval process. The Bank said that this, if benchmarked against the success of the Vehicle Finance Center, will provide much faster turnaround periods for all applicants.
QNB offers competitive mortgage rates and no management fees, coupled with flexible repayment options, and tailored finance for ready property and land in order to help customers turn their dreams into reality.
Customer Service Officers at the Mortgage Loan Center will help customers determine their borrowing eligibility, complete the necessary forms, and will guide them through the entire approval process.
An individual's borrowing eligibility is based on monthly income, overall employment benefits, and existing financial liabilities with QNB or any other financial institution.
To apply for a mortgage loan, customers can call at 4440 7777 or visit the QNB Mortgage Loan Center in order to get an idea of their eligibility. They must also open a salaried account at QNB, with which the staff will help them.
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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 2012
