QNB Most Valuable Banking Brand in Middle East and Africa with a Value of US $4.2bn

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QNB Most Valuable Banking Brand in Middle East and Africa with a Value of US $4.2bn

QNB Group, the largest financial institution in the Middle East and Africa, was recognized once more as the most important banking brand name in the Middle East and Africa region with brand value worth United States $4.2 bn, inning accordance with The Banker's 2018 Brand name Financing Global 500 record released in its February edition.

QNB's brand worth has expanded to United States $4.2 bn compared with United States $3.8 bn in 2017, an 11% year-on-year increase, while the Group's Brand Strength Index (BSI) has actually enhanced from 76.4 out of 100 to 78.4 out of 100, driven by its constant strong financial efficiency and growing international expansion.

QNB also noted a new and considerable milestone in support of its vision to become a leading bank in the Middle East, Africa, and Southeast Asia by 2020, rating 2nd most valuable banking brand name in Southeast Asia (SEA) ahead of significant banks in Malaysia, Indonesia, Thailand, Philippines, and Singapore.

The Group also maintained its AA+ brand name strength score, making it the strongest banking brand in the region and can rank greater in the future as it continues to develop its customer base and enhance its brand. QNB is likewise the only Qatari brand to be among the leading 100 banking brand names on the planet. The current increase in value suggests that the Group is now ranked 425 throughout all global brands, up from 433 in 2014.

This recognition shows QNB's strong and constant monetary efficiency and growth prices, together with its global existence, which extends a lot of the world's leading economic facilities, consisting of London, Paris, Geneva, Mumbai and Shanghai.

In addition to its brand involvement, the Group delivered a solid set at the year-end of 2017 with a net profit of QAR13.1 billion (USD3.6 billion), up by 6% compared with the previous year driven by its asset growth by 13% from December 2016 to reach QAR811 billion (USD223 billion), the greatest ever before accomplished by the Group. QNB Group likewise increased consumer down payments by 16% to get to QAR586 billion (USD161 billion) from December 2016.

Mr. Yousef Darwish, General Manager of QNB Group Communications, stated: "Being named as the most valuable bank in the Middle East and Africa region in 2018 and ranking 2nd most valuable banking brand in SEA are a real testimony to our vision, strategy, implementation and solid results."

" This new success likewise shows how much we have advanced in our ambition to be a leading bank in the Middle East, Africa and Southeast Asia (MEASEA) by 2020," he added.

" The QNB brand name has actually improved as a national modern icon of banking excellence that mirrors the bank's long-lasting tradition associated with innovation. It also shows our commitment to offer innovative banking products and services that go beyond consumer expectations and supply a unique banking experience that has actually made us the first banking selection," "Al Darwish wrapped up.

For his part, David Haigh, Chief Executive Officer of Brand Financing, commented: " In the middle of attempting times for the online reputation of the banking industry all at once, QNB takes care of not only to attract customers in new markets, such as South East Asia, but likewise to strengthen its image among the existing customer base.".

Brand Financing, the world's leading independent branded business appraisal and method consultancy, is the company behind the Brand Financing Banking 500, a league table of the world's greatest banks placed by their brand name worth, assesses the buck value of the track record, picture and intellectual property of the brand, which is published every year in partnership with The Lender magazine.

The Banker has been providing global monetary knowledge given that 1926 is the world's longest running worldwide banking title and the leading monthly title of the Financial Times Group and stay a key resource of data and analysis for the industry. QNB Group's visibility via its subsidiaries and associate companies encompasses greater than 31 countries across three continents offering a thorough variety of sophisticated products and services. The complete variety of staff members is more than 28,200 operating through greater than 1,230 places, with an ATM network of more than 4,300 machines.