DOHA: Qatar National Bank (QNB) Group has consolidated its position as the best brand value in the Middle East and North Africa (Mena) for 2013 among the ‘World’s Top 500 Banking Brands’, in a latest survey.
According to an annual survey conducted by Brand Finance and published by The Banker magazine, an affiliate to the Financial Times, QNB Group has achieved an increase in the value of its brand by $500m to $1.81bn. This represents a 38 percent increase on the 2012 levels, and importantly saw ‘The World’s Strongest Bank’ rise to 101st globally in the rankings of the world’s top 500 banking brands.
The Group in a statement said that this improvement of 19 places is testament to the continuing robust financial performance and successful international expansion of a brand that is now operating across 26 countries worldwide. Yousef Darwish, General Manager, QNB Group Communications, said: “This is a notable achievement for the QNB Group and continues the impressive momentum delivered over recent years.
The importance of our brand and how it is perceived by our diverse range of stakeholders is paramount across the operation. The Survey confirms that we are making good progress and continue to be the best brand value across the region. Looking to the future, the QNB Group vision is to be an icon in the Middle East and Africa region by 2017.”
The factors considered for judging criteria include: size of operation, geographical presence, global and regional reputation and brand classification. On the latter point, QNB Group maintained its AA brand rating for 2013 and this classification is based on the health and future growth potential of the brand based on the criteria deployed.
The prestigious recognition of being the premium brand in The Middle East by value builds upon other achievements secured by QNB over the past 12 months.
Global Finance Magazine recognised QNB as being amongst the ‘Safest 50 Banks in Emerging Markets’, The Banker Magazine bestowed ‘The Best Bank in The Middle East 2013’ accolade and Bloomberg Markets confirmed QNB as ‘The World’s Strongest Bank’ throughout 2013.
The various recognitions and awards are underpinned by a strong and robust financial performance that saw net profits reach QR9.5bn in 2013 (an increase of 13.7 percent on 2012 levels) and total assets reaching an all time record high of QR443bn (up 20.9 percent). The Peninsula
