QNB Group Commences Operations in India
July 23 2017 - 10:14AM
Business Wire
QNB Group, the largest financial institution in the Middle East
and Africa, has recently commenced operations in the city of
Mumbai, the economic capital of the Republic of India.
The start of the Group’s operations in the Republic of India
comes in support of its vision to become a leading bank in the
Middle East, Africa, and Southeast Asia by 2020, in addition to
establishing a foothold in highly competitive markets.
Through its new branch in India, the Group offers a full
spectrum of banking products and services. The Group also offers
its rich experience in wealth management, investment portfolios,
project finance, and the provision of smart banking solutions and a
range of innovative products and services designed to suit the
requirements of the Indian market.
The Indian economy is the seventh largest in the world with an
annual GDP of USD2.3tn in 2016. It is the world’s second most
populated country and the fastest growing major economy. It has
expanding trade and population ties with Qatar and the Middle East
region more broadly. In particular, India is the third largest
importer of liquefied natural gas from Qatar.
It is worth mentioning that QNB recently topped The Banker
magazine’s and ranked Best Bank in the Middle East and Africa by
Tier 1 capital, as well as ranking 82nd among the Top 1000 World
Banks.
QNB Group’s total assets reached USD211 billion as of 30 June
2017, the highest ever achieved by the Group, and net profit for
the six months ended 30 June 2017 reached USD1.8 billion.
QNB Group’s presence through its subsidiaries and associate
companies extends to more than 31 countries across three continents
providing a comprehensive range of advanced products and services.
The total number of employees is more than 27,900 operating through
more than 1,250 locations serving more than 21 million customers,
with an ATM network of more than 4,300 machines.
*Source: ME NewsWire
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version on businesswire.com: http://www.businesswire.com/news/home/20170723005034/en/
QNB GroupMaha Mubarak Ali, +97444975704PR@qnb.com.qa