DOHA -- QNB Group, the largest financial institution in the Middle East and Africa (MEA), maintained the first position in the MEA region on The Banker magazine’s "Top 1000 World Banks" list released recently.
QNB ranked number one as the region’s largest bank with Tier 1 capital rising 10.4% to $24.9 billion in 2019, pushing it to the 72nd position in the global ranking from the 75th position a year earlier.
The Bank reported some of its best annual results ever during the review period, supported by the success of its business strategy and sound management decisions.
The recognition was based on a number of factors, including pre-tax profits, total assets, capital assets ratio, return on capital, return on assets, BIS total percentage, NPL percentage, loans to assets ratio, RWA density, and cost to income ratio.
In addition, this year's ranking adds the new best performing banks ranking, using a newly developed model to compare leading banks across eight key performance categories: growth, operational efficiency, return on risk, soundness, profitability, asset quality, liquidity, and leverage.
Maintaining the top position in the MEA region in this global classification from The Banker is a new recognition of QNB Group’s commitment to leadership in several areas, the most important of which is brand value, strong financial performance, and quality of assets, along with the continuous growth of the Group’s market share.
Furthermore, this new achievement reflects the Bank’s commitment to continue the path of leadership and innovation, backed by the strong foundations of governance, strategy, leadership, and disciplined management.
Earlier this year, the QNB brand was recognized, once again, as the most valuable banking brand in the MEA region, with a value worth nearly $6.03 billion, according to independent brand valuation consultancy Brand Finance.
QNB Group has maintained its position as one of the highest rated regional banks from leading credit rating agencies including Standard & Poor’s (A), Moody’s (Aa3) and Fitch (A+). The Bank has also been the recipient of many awards from leading international specialized financial publications.
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 29,000 serving 25 million customers and operating through 1,100 locations, with an ATM network of 4,200 machines.