QNB Group, the largest financial institution in the Middle East and Africa (MEA), was recognized, once again, as the most valuable banking brand in the MEA with a brand value worth US $5.04 billion, according to the annual report prepared by Brand Finance and published by The Banker magazine.
QNB's brand value grew to US $5.04 billion compared to US $4.2 billion in 2018, a 19% year-on-year increase, defending 61st place in the top 500 banking brands worldwide.
The Group's brand also continued to be market dominant in the MEA amid an average regional brand value increase of 9%.
The Group reaffirmed its AA+ brand strength rating with a positive outlook, making it the highest rated banking brand in Qatar.
QNB's Brand Strength Index (BSI) continues to increase to 79 out of 100, driven by its strong financial performance and growing international footprint.
The Group's brand continued to drive growth in Southeast Asia in support of its vision to become a leading bank in the Middle East, Africa, and Southeast Asia (MEASEA) by 2020.
In addition to its brand engagement, the Group delivered a solid set at the year-end of 2018 with a net profit of QAR 13.8 billion (USD3.8 billion), up by 5% compared to same period last year. Total assets increased by 6% to reach QAR 862 billion (USD 237 billion), the highest ever achieved by the Group and one of the best set of results in QNB Group's history.
Mr. Yousef Darwish, General Manager of QNB Group Communications, said: "The strategic initiatives we have undertaken through 2018 have allowed us to strengthen our brand and maintain our ranking as the most valuable banking brand in the MEA. The QNB brand is on a continuous increase which provides a tangible indication of our growth and diversification, along with our keenness to secure a stronger share of the regional and global market."
"QNB enjoys an award- winning brand platform that reflects our values, commitment, and excellence to deliver outstanding banking services and products to customers thanks to our creative approach towards continuously building our brand image and values," Darwish added.
"This new achievement is a true testament to the Group's market leading capital ratios and strong growing international footprint, driven by a robust financial performance towards achieving our 2020 vision aimed at becoming a leading bank in the MEASEA region," Darwish concluded.
For his part, David Haigh, CEO of Brand Finance,
