Doha 28 March 2007- Qatar National Bank (QNB) announced the opening of its new office at Qatar Telecommunication (Qtel) headquarters, a step that will help expand the bank's fast growing network in Qatar. Aimed at keeping up with the rapidly growing demand for its products and services, this new office will help serve both QNB and Qtel customers.

QNB and Qtel, one of the largest public corporations listed in the Doha Stock Market, share a very close and long standing relationship. Qtel also chose QNB to be in charge of the distribution of its profits among its shareholders.

The new office will provide the regular retail products and services as the rest of the QNB offices in its network. This includes an ATM, Opening of Accounts, Credit Cards, Personal, Vehicle, and Mortgage Loans. The branch will also facilitate money transfers and payment of bills.

QNB and Qtel's relationship dates back to 1997 when the bank played the role of IPO subscription manager for Qtel. Later that year, QNB assisted in getting Qtel listed at DSM as well. QNB and Qtel also teamed up to offer new Qtel expatriate employees, ready-made banking services. Through this service called BEDAYA Account Package, QNB offered all the essential banking products and services to new expatriate Qtel employees, immediately upon their arrival to Qatar.

In early 2006, QNB and Qtel introduced a service whereby Qtel customers could recharge their Hala credit through QNB ATM's via the internet or mobile phones. QNB is the only bank to provide this unique facility to Qtel customers. Later that year, QNB was appointed as financial advisor and mandated lead arranger by Qtel, on a $2 billion financing facility to assist in its growth strategy. QNB is also involved in distribution of dividends for Qtel.

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Qatar National Bank (QNB)
Qatar National Bank (QNB) was established in 1964 as the country's first Qatari-owned commercial bank, with an ownership structure split between the Government of Qatar (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 45% of banking sector assets. QNB has the largest distribution network of 38 branches and offices, in addition to 7 Islamic branches, and around 120 ATM's.

QNB international presence is rapidly expanding with new locations in Singapore and Libya, Oman, Kuwait and Yemen, supplementing existing branches in London and Paris and a Representative Office in Iran.  The London-based Ansbacher, QNB's Wealth Management and Private Banking subsidiary, operates in Switzerland, Channel Islands, the Bahamas, Dubai International Financial Center and Qatar Financial Center. Ansbacher, was the first financial institution to be granted a license to operate at Qatar Financial Centre providing a wide range of wealth management services in Qatar and the region.

QNB offers a full range of retail, corporate, investment, treasury, wealth management, and Islamic banking products and services for individuals, corporate institutions and government entities. QNB is constantly striving to provide intelligent banking solutions and its range of products and services, and delivery channels across all disciplines continues to be unrivalled.  

Through its affiliate, QNB Al Islami, QNB was the first commercial bank in Qatar to offer Islamic Banking products and services, and the first Qatari bank to launch equity funds (Al Watani Funds) for companies listed in the Doha Securities Market.

QNB has the highest credit rating among Qatari banks from leading rating agencies including Standard & Poor's, Moody's, Fitch, and Capital Intelligence.   The Bank has also been the recipient of the "Best Bank in Qatar" Award from leading international specialized financial publications. . 

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

The Bank is the official sponsor of the four major sports in Qatar which include Football, Basketball, Handball, and Volleyball.

For further information, please contact QNB's Public Relations Department at (974) 4407828 - 4407109, email: PR@qnb.com.qa or visit QNB's website:www.qnb.com.qa

© Press Release 2007