QNB, after registering its highest profit margin in history, is keen to expand further
In 2017, the Qatar National Bank (QNB) Group registered its highest profit margin in history despite the ongoing blockade.
The financial giant is now looking forward to expand its presence in the Middle East, Africa and Southeast Asia (MEASEA) region by expanding its network or through acquisitions, reported Qatar Tribune, quoting the QNB Chairman.
Addressing the bank’s ordinary general assembly in Doha, Minister of Finance and QNB Chairman HE Ali Shareef Al Emadi said the bank posted the highest profit in its history in 2017, thanks to its solid financial position and expansion of its global network.
Al Emadi said the group's international operations continued to achieve a high rate of profit, which amounted to 36% of the total profit.
“The QNB Group would continue to expand in the international market. We’ve embarked on our journey to become a leading bank in MEASEA by 2020,” Al Emadi said.
QNB Group, he said, continues to perform in line with its growth target as envisioned in MEASEA 2020 strategy.
“We see the recent developments as an opportunity to nurture the local private economy and also to further diversify QNB’s balance sheet in line with our international expansion plans,” he said.
