GCI deals drive QNB’s profit growth

February 03, 2014 - 2:02:17 am

The Chairman of Qatar National Bank (QNB), H E Ali Sherif Al Emadi (centre), addressing the QNB Group Ordinary General Assembly at the Sharq Village and Spa yesterday. With him are the board members of QNB (from left), Bader Abdullah Darwish Fakhroo, Ahmad Mohammed Ahmad Al Sayed, Sheikh Hamad bin Jaber bin Jassem Al Thani and Ali Hussain Ali Al Sada. (Salim Matramkot)



By Satish Kanady

DOHA: QNB’S Group Corporate & Institutional Banking (GCI) continued to be the key engine of the Group’s profit and growth in 2013. The corporate banking department within the GCI provided several bilateral financing facilities last year for clients such as Nakilat, Halul Offshore and Gulf LPG.

The contracting unit of GCI financed wide range of key projects in 2013. These included a 10-year loan facility agreement with United development Company (UDC), the master developer of The Pearl-Qatar, and a term loan financing the development of the Mall of Qatar, a large mall under construction near Qatar Foundation. A QNB Group-led syndicate of banks was mandated for the provision of the full banking facilities and associated requirements for the new Doha Metro Project-Red Line South package.

GCI is highly supportive of a key pillar of the Qatar National Vision 2030-nurturing growth of small and medium-sized enterprises (SMEs).  

In 2013, GCI’s Global Structure Finance (GSF) department was involved in several significant transactions. Within Qatar, QNB Group supported Ooredoo as General Financial Adviser, Documentation Coordinator, Facility Agent as well as Initial Mandated Lead arranger in arranging $1bn Revolving Credit Facility. 

The QNB Group was Mandated Lead Arranger (MLA) and Facility Agent for $650m for Qatar Aviation Leasing Company. QNB Group coordinated and arranged project financing of  $450m for Qatar Electricity & Water Company’s Ras Abu Fontas A2 water desalination project.

Outside Qatar, the Bank jointly underwrote the $1.03bn facility to Saudi Oger. QNB Group arranged $182m equivalent dual currency syndication for Omani Qatari Telecommunications Company (Nawrasa) in Oman.

QNB Group jointly coordinated and arranged the $700m facility for Zain Mobile telecommunications in Kuwait. The Group was a MLA in project financing $12.5bn deal for Sadara Chemical Company in Saudi Arabia while joined syndicated financing package of $4.75bn for Ojer Telekomunikasyon in Turkey.

QNB Group was Advisor and arranger of $150m for Reswara, a mining project in Indonesia and also advising and arranging a gold mining deal of $290m in Indonesia. The Group was engaged as underwriter and MLA for $350m syndication for Air Arabia. It is also jointly arranging ship financing of $1.23bn for United Arab Shipping Company. 

With estimated $4bn total assets under management (AUM), QNB Group’s Asset and Wealth Management Department (GAW) is currently managing seven mutual funds and several discretionary mandates covering both equities and fixed income.

In order to strengthen its global footprint, the asset management department expanded its geographic coverage to Singapore. A new asset management desk was established to cover major Equity markets.

The Peninsula

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