QNB Group Chief Executive Officer, Abdulla Mubarak Al Khalifa
Doha: QNB will continue to invest in technology and innovation to ensure the bank provides the best and most secure products and services to its customers, stated QNB Group Chief Executive, Officer Abdulla Mubarak Al Khalifa.
In a statement issued on the occasion of QNB Group’s Ordinary General Assembly Meeting here yesterday, Al Khalifa said: “Being innovative is fundamental to unlocking shareholder value and is one of the pillars to deliver upon our strategy. Innovation concerns every single one of us while becoming part of our DNA across all levels. We have taken steps to embrace the change to become a part of the future of banking…”
For this purpose, QNB has established a global innovation centre, QNBeyond. This will help QNB future-proof its business to be the bank of choice for millions of customers today and into the future, the Group CEO added.
Al Khalifa noted that managing risk is an integral part of QNB’s business and decision-making process. QNB Group’s sustainable performance depends on its ability to manage risk at all levels. “The banking sector is a high-profile target for cyber criminals, with threats to even the most advanced systems being more frequent and sophisticated thane ver. For that reason, we maintain a robust cybersecurity strategy and this area remains a constant area of focus. We continued to invest and enhance our capabilities in this area to strengthen our defences”, he said.
On QNB’s solid 2019 financial results, the Group CEO said : “ With assets of more than QR944.7bn, our profitability for 2019 was QR14.4bn, up 4 percent on last year. This was driven by a 10 percent growth in loans and 10 percent in deposits…The profit contribution of our international operation was 34.5 percent.”
QNB remains actively involved in a range of ongoing projects in preparation for 2022 FIFA World Cup. The bank retained its leading position in corporate banking domestically, with a significant focus on transport, food security sectors and 2022 FIFA World cup infrastructure.
Commenting on the bank’s domestic retail business, QNB Group CEO said the performance across 2019 was equally strong. The bank maintained its market-leading position in card provision in Qatar . “We are also leading the way in introducing new payment solutions and technologies that are safe, secure and offer greater convenience to our customers.”
Internationally, QNB Group operates as a full-service financial institution in its core markets in Turkey and Egypt. In addition, QNB has continued to enhance its specialized wholesale banking proposition across a range of frontier and emerging markets.
“Our growing presence in more developed economies was bolstered by a regulatory approval for a branch in Hong Kong. Our presence in this important financial hub will significantly enhance our ability to serve East Asia, contributing to the expansion of our network, reach and reputation.”
