Qatar National Bank (QNB Group) (Arabic: بنك قطر الوطني) is a Qatari multinational commercial bank headquartered in Doha, Qatar. It was founded in 1964 and currently has subsidiaries and associates in 31 countries spanning three continents. The bank's ownership is evenly divided between the Qatar Investment Authority and members of the public.[4]
 | |
| Company type | Public |
|---|---|
| QE: QNBK | |
| Industry | Banking and Financial services |
| Founded | June 6, 1964 as Qatar National Bank[1] |
| Headquarters | , |
Area served | Worldwide[2] |
Key people |
|
| Products | Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, securities, asset management |
 US$9.6 billion (2022) [3] | |
| US$4.4 billion (2022) [3] | |
| Total assets | US$327 billion (2022) [3] |
| Total equity | US$29.0 billion (2022) [3] |
Number of employees | 29,000 (2019) |
| Parent | Qatar Investment Authority (50%) |
| Website | www |
History
QNB was founded on 6 June 1964 as the country's first domestically-owned commercial bank. It had 35 employees in its first year and was initially headquartered in a government-owned building in Qatar's capital city, Doha.[5] The two currencies in circulation at the time were the Indian rupee and British pound. As Qatar's population continued increasing through the century, QNB started establishing branches in other parts of the country.[5]
In 1974, the first branches outside of Doha were opened in Al Khor and Mesaieed. The bank installed its first ATMs in 1988 in its Doha branches, and, in the next year, introduced VISA cards for its clients.[5] By 2015, it had established 76 branches in Qatar.[5] Qatar National Bank (QNB) controls an 82.59 percent stake in Bank QNB Indonesia.[6]
For the nine months ended September 30, 2020, net profit was QR 9.5 billion (US$ 2.6 billion). Total assets also increased by 8% since September 30, 2019, to reach QR986 billion (US$271 billion).[7]
