In recent years, Qatar National Bank (QNB) has presided over an enviable growth trajectory. Through a combination of discipline and ambition, Qatar’s largest lender has developed into the top financial institution for the Middle East and north Africa region, with a market capitalisation of $36.1bn and total assets of $126bn, as of March 31, 2014. “Our strong performance has extended over a considerable period. In the five years until the first quarter of 2014, QNB has achieved impressive compound annual growth rates for assets at 27%, loans 31%, operating income 23% and profits 19%,” says acting group chief executive Ali Ahmed Al-Kuwari.
This extraordinary rise has come at a time when a number of major Western lenders have been scaling down their presence in the region. Few banks better epitomise the shift in economic power from West to East than QNB. Well capitalised and flush with liquidity, the bank has embarked on an aggressive strategy of international expansion as it seeks higher growth opportunities outside Qatar. This has seen QNB's reach extend to 26 countries across three continents. "Our international expansion is one of the key pillars of QNB Group’s strategy to become a Middle East and Africa icon by 2017," says Mr Al-Kuwari.
