The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

QNB flies flag for Qatar’s growth

QNB became the Middle East’s biggest bank last year and is now stepping up acquisitions abroad. Can it follow Qatar’s corporate champions and transform into an emerging market-focused bank worthy of the state’s newfound financial power?

Change planes in Doha and you cannot miss the three letters covering the side of the bus transferring you to the terminal: QNB.

Qatar National Bank until recently kept a lower profile than Qatar’s other state-backed corporate flagships, such as Qatar Telecom (Qtel) or Qatar Airways. But that has begun to change: in January, Paris football club PSG said it would carry QNB’s logo – the bank’s first big sports sponsorship deal outside Qatar.

Qatar Investment Authority (QIA) indirectly bought a stake in PSG last year. Now the sovereign wealth fund, which owns 50% of QNB after subscribing to a $4 billion rights issue in 2011, has given the go-ahead to QNB’s other new foreign acquisition plans.

Indeed, QNB is joining the club of state-sponsored so-called Q companies stalking the emerging world.

Take out a complimentary trial

Take out a 7 day trial to gain unlimited access to Euromoney.com and Asiamoney.com analysis and receive expertly-curated updates direct to your inbox.

 

Already a user?

Login now

 

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree