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Thursday, November 26 - 2009

QNB named "The Best Bank in Qatar" by Global Finance

Qatar National Bank (QNB) was named the Best Bank in Qatar at Global Finance magazine's thirteenth annual Best Bank Awards ceremony held at the same time as the Annual Meetings of the IMF and World Bank in Istanbul, Turkey. More than 200 bank CEOs and senior financial officers and central bankers attended the gala ceremony.

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  • QNB main building.
    QNB main building.
In selecting the winners, the judges considered criteria such as growth in assets, profitability, geographic reach, strategic relationships, new business development and product innovation.

also relied on the opinions of equity and credit-rating analysts, banking consultants and others in the industry, as well as corporate finance executives.

"A year after the failure of some major global financial institutions, companies and investors are looking for assurance of their banks' credit-worthiness,"


said Joseph Giarraputo, publisher of Global Finance.

"But also, more than ever, they are demanding superior competence. Hopefully, these lists will help them find the most competent financial partners," he said describing the purpose of these awards. The winners are not always the biggest banks but, rather, the best banks - those with the qualities that corporations should look for when choosing a bank, he says.

Global Finance had earlier also named QNB, the Best Foreign Exchange Bank, and the Best Trade Finance Provider in Qatar.

QNB's nomination for the Best Bank award was based on its impressive performance in 2008 when the Bank's earnings increased by 45.2% and surpassed the $1bn mark for the first time ever. At the end of 2008, the Bank's assets rose by 32.9% to $42bn (QR152.0bn), making it one of the largest banks in the region.

QNB also embarked on progressively introducing a more extensive line of Islamic products in both its corporate and retail banking businesses.

The Global Finance Awards have become a recognized and trusted standard of excellence in finance and the publisher this year identified the best banks in 123 countries, as well as the best banks globally in 11 key banking categories.
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Notes and media contacts

About QNB
Qatar National Bank (QNB), established in 1964 as the country's first Qatari-owned commercial bank, has an ownership structure split between the Qatar Investment Authority (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 40% of banking sector assets.

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 in Qatar as well as internationally.

QNB has the largest distribution network in Qatar, comprising 44 branches and offices (including 3 mobile branches), in addition to 11 Islamic branches and offices operated by QNB Al Islami, and more than 160 ATMs.

QNB was the first conventional bank in Qatar to offer Shari'a-compliant banking products and services through QNB Al Islami, established in 2005.

QNB's international presence is rapidly expanding to include new locations around the world to supplement the long established branches in London and Paris. Currently QNB has presence in 22 countries including branches in Yemen, Oman Kuwait & Singapore as well as Representative Offices in Iran & Libya. An Islamic branch was recently inaugurated in Sudan, offering a full range of Islamic banking services and products.

QNB has also extended its regional reach by acquiring shares in various financial institutions including 33.5% stake in the Jordan based, The Housing Bank for Trade and Finance (HBTF), 23.8% of the shares of Commercial Bank International (CBI) based in the United Arab Emirates (UAE), 50% of the Tunisian-Qatari bank and 20% stake in the Doha-based Al Jazeera Islamic Company. QNB also retains 49% stake in QNB-Syria, a private stock company established jointly with other Syrian private and public sector institutions which will start its operations at the end of this year.

The Bank recently established a new investment company "QNB Capital" providing an array of investment banking services to corporate, government and institutional clients within Qatar and globally. These include one of the best corporate finance teams in the GCC region offering extensive transaction experience, in depth advisory services - including mergers and acquisitions, equity, debt and project advisory - as well as first-class research capabilities.

QNB is among the highest rated regional banks from leading credit rating agencies including Standard & Poor's, Moody's, Fitch, and Capital Intelligence. The Bank has also been the recipient of many awards from leading international specialized financial publications for its innovative products, services and remarkable performance.

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

For further information, please contact QNB's Public Relations Department at (974) 42524
, Fax (974) 4252589

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