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Qatar National Bank (QNB Group) (Arabic: بنك قطر الوطني‎) is a Qatari commercial bank headquartered in Doha, Qatar. It was founded in 1964 and currently has subsidiaries and associates in 31 countries spanning 3 continents. The bank's ownership is evenly divided between the Qatar Investment Authority and members of the public.

Qatar National Bank Q.P.S.C.
Public
Traded asQEQNBK
IndustryBanking and Financial services
FoundedJune 6, 1964 (1964 -06-06) as Qatar National Bank[1]
Headquarters,
Number of locations
4300 branches (2016)
Area served
Worldwide[2]
Key people
ProductsCredit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, securities, asset management
RevenueIncrease US$6,4 billion (2016)
Increase US$3,6 billion (2017)
Total assetsIncrease US$229.1 billion (2018)
Total equityIncrease US$19 billion (2016)
Number of employees
Increase 28,000 (2016)
ParentQatar Investment Authority (50%)
Websitewww.qnb.com

HistoryEdit

QNB was founded on 6 June 1964 as the country's first domestically-owned commercial bank. It had 35 employees in its first year and was initially headquartered in a government-owned building in Qatar's capital city, Doha.[3] The two currencies in circulation at the time were the Indian rupee and British pound. As Qatar's population continued increasing throughout the century, QNB started establishing branches in other parts of the country.[3]

In 1974, the first branches outside of Doha were opened in Al Khor and Mesaieed. The bank installed its first ATMs in 1988 in its Doha branches, and, in the proceeding year, introduced VISA cards for its clients.[3] By 2015, it had established 76 branches in Qatar.[3]

ReferencesEdit

  1. ^ "Qatar National Bank". Forbes. Retrieved 6 July 2015.
  2. ^ "About QNB". Qatar National Bank. Retrieved 6 July 2015.
  3. ^ a b c d "50 years of national pride". Gulf Times. 9 June 2014. Retrieved 6 July 2015.