Mr. Ali Shareef Al Emadi, QNB's Acting Chief Executive highlighted, "This accomplishment has been a major milestone owing to the distinguished relations between Qatar and Singapore especially after signing the free trade Memorandum of Understanding between them. Through its representative office in Singapore, QNB can serve other South East Asian countries.
This move will be of great value to Qatar National Bank and to the Qatari economy at large as emerging opportunities will boost the business trade between Qatar, Singapore, and other Asian countries. In addition to being a banking hub for various multinational financial institutions, Singapore is also one of Qatar's major export country.
"We are confident that both countries will benefit from this step and this new achievement will certainly brand QNB as a leading bank not only in Qatar, but also in the region" said Mr. Al Emadi.
QNB was recently granted an official approval to establish full-fledged branches in Yemen, Kuwait and Oman. In addition to its London and Paris branches, QNB has Representative Offices in Iran & Libya.
The fully owned Ansbacher Group also provides private banking and wealth management services through its offices in the United Kingdom, Switzerland, Channel Islands, The Bahamas, Dubai International Financial Center and Qatar Financial Center.
With this opening in Singapore, the QNB Group's presence around the world will extend to 15 countries with the QNB owned Ansbacher Group.
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Qatar National Bank begins operations in Singapore
- Qatar: Tuesday, April 17 - 2007 at 10:44
- PRESS RELEASE
In its continuous effort to expand its international operations and enhance its multinational customers' profile, Qatar National Bank (QNB) announced on 16th April the opening of its Representative Office in Singapore.
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About 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 Oman, Kuwait and Yemen and Singapore, supplementing existing branches in London and Paris and a Representative Offices in Iran & Libya. 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.
For further information, please contact QNB's Public Relations Department at (974) 4407828 - 4407109
Posted by Medilyn Manibo, Assistant News EditorTuesday, April 17 - 2007 at 10:44 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Tue May 01 2007.
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