Qatar National Bank
| Qatar National Bank
|
|
|---|---|
 |
|
| legal form | |
| ISIN | QA0006929895 |
| founding | 1964 |
| Seat | Doha , Qatar |
| Number of employees | 1,300 (1,600 with foreign investments) |
| Branch | Banking |
| Website | www.qnb.com.qa |
The Qatar National Bank ( Arabic بنك قطر الوطني, DMG Bank Qaṭar al-waṭanī ) is the largest private universal bank in Qatar . It was founded in Doha in 1964 and is now one of the largest banks in the Middle East . The balance sheet total in 2009 was around 179.3 billion QAR , which on December 31, 2009 at the interbank rate corresponded to around 34.3 billion €. This roughly corresponds to the total assets of the Hamburger Sparkasse . The profit was around 4.2 billion QAR, which on December 31, 2009 at the interbank exchange rate corresponded to around 801 million €. The RoE was around 21.2% and the equity ratio was around 11%. The bank has 1,300 employees (1,600 with foreign holdings).
QNB has been given good ratings by leading rating companies ( Standard & Poor’s : A +, Moody’s : Aa3, Fitch Ratings : A + and Capital Intelligence : AA-).
In 2010 it was owned half by the state-owned Qatar Investment Authority and half by private investors. It has grown steadily since it was founded and in 2010 it had a 40% market share in Qatar. It grew a lot in the 2000s; the CAGR 2005–2009 for total assets was 37.5% and that for profit 28.7%.
The company is currently building a new headquarters in Doha, the Qatar National Bank Tower , a 510 meter high skyscraper that will be one of the tallest buildings in the world when it opens in 2014.