DOHA: Qatar National Bank (QNB Group), the country’s first Qatari-owned commercial bank and the largest lender in the Middle East and North Africa region, celebrated its 50th anniversary of achievements and excellence in supporting the development of local economy yesterday in the presence of the Prime Minister and Interior Minister, H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani.
The event was attended by an elite grouping of ministers, top business dignitaries and company presidents. Included in the group of special guests were the presidents of both Tokyo Mitsubishi Bank and Deutsche Bank.
The event was also attended by long serving employees and customers of the Bank dating back to its foundation in 1964.
Addressing the event, the Minister of Finance and QNB Chairman, H E Ali Sherif Al Emadi, said: “Today’s celebration, marking the Golden Jubilee of Qatar National Bank, is a historical occasion to recall how we started the establishment of the first Qatari bank. Thanks to the sincere efforts and dedication of five generations, the bank has become a leading international financial institution, and we are all proud of being part of its team.”
“Since its inception, QNB has played a key role in the development of the financial and banking system. Basic banking transactions such as deposits and loans were provided at the beginning in 1964, and evolved and transformed into the financial system that operates today. We now offer a service that operates both to the best international practices and the latest financial and banking technologies”, he added.
Speaking at the occasion, Ali Al Kuwari, QNB’s Acting GCEO said QNB will focus on a two-pronged strategy to achieve further growth and expansion. The first phase will deal with expanding the bank’s global presence through entering new markets in the Middle East, Africa, Europe and South East Asia. This will be achieved through opening new QNB branches in these markets or through the acquisition of controlling stakes in existing financial institutions operating within these same markets. This expansion aims to increase QNB’s international network contribution to represent 50 percent of the group’s total assets and profitability.
The second phase will focus on expanding the operations of QNB’s existing international network. There is high potential for growth in the existing network presence, currently operating across 26 countries and three Continents, to provide unique banking services to our customers.
“Today, when we reflect and celebrate on fifty years of dedication and excellence, we must also have our eyes firmly focused on tomorrow. We must prepare for another five more decades of achievements to come. To live up to this promise, QNB has outlined our ambitious strategy to transform from a strong local and regional bank into a leading global financial institution”, he said.
To mark QNB’s evolution and development over the last five decades, a special documentary film was screened during the celebration.
The documentary highlighted the main milestones and achievements delivered by the bank since its inception in 1964, its sterling efforts to both serve and support all sectors of the country’s economy and communities, and highlighted the banks continuous drive to reflect Qatar’s National Vision 2030.