QNB’s vision is to build on a market-leading position in the Middle East and become one of the strongest banks across Africa and Southeast Asia as well. Such ambition requires sound strategy and financial firepower — QNB has both.
In the domestic market, the bank has long been a lynchpin of Qatar’s economic development. A prime example is its ongoing role in the North Field expansion project, which aims to raise domestic liquefied natural gas production by 85% by 2030. The project is intended to reinforce Qatar’s position as a global leader in energy, petrochemicals and fertilisers.
Beyond energy, QNB has participated in a landmark syndication for Ooredoo, enabling the telecommunications group to expand its capacity and infrastructure through state-of-the-art data centres. This economy-spanning activity helped the bank post an 8% rise in net profit to an impressive $4.6bn in 2024.
But QNB is not simply focussed on its own results. “At home and abroad, the bank defines its purpose as promoting prosperity and growth in the societies where it operates,” says Abdulla Mubarak Al-Khalifa, Chief Executive Officer of QNB. “This role is closely aligned with Qatar National Vision 2030, which aims to transform the state into a knowledge-based economy.”
Within this framework, QNB has financed national strategic projects in infrastructure and investment, while facilitating access to credit for small and medium-sized enterprises, local businesses and entrepreneurs. This same approach extends beyond Qatar. Through its subsidiaries, QNB is supporting major corporates, SMEs and financial institutions, including in Turkey and Egypt.
The bank has a network spanning 28 countries across the Middle East, Asia, Africa and Europe and wants to help drive economic growth across markets. The balance sheet reflects the scale of the franchise. At the end of 2024, total assets stood at $356.5bn, with net profit of $4.6bn.
Strategy and sustainability
The bank’s long-term direction is built on three interlinked pillars: a focus on its core role as an international wholesale bank, leveraging innovation as a strategic enabler and embedding sustainability across its business and operating model.
The innovation agenda centres on capturing the potential of open banking, platforms, data and analytics, artificial intelligence, digitisation, robotics and automation. Alongside these priorities, the bank has embedded sustainability into its operating framework, with the aim of delivering positive outcomes across environmental, social and governance themes.
This commitment has been formalised through the QNB Group Sustainable Finance and Product Framework, which allows the bank to structure products such as green loans, bonds, deposits, sustainability-linked loans and transition finance. The Framework is designed to expand the range of ESG-themed opportunities available to clients, while supporting positive impact for society and the environment.
Sustainability considerations have also been incorporated into the bank’s group-wide risk appetite and enterprise risk management framework, cascading through all activities and operations.
“The most impactful way to address the topic of sustainability is through our financing activities,” says Al-Khalifa. “The bank is today recognised as a leader and pioneer in ESG financing, both in Qatar and the wider region.”
Innovation, differentiation and scale
Alongside sustainability, digital transformation is another area of emphasis. The bank has invested in digitisation, automation, data and analytics, artificial intelligence and open banking as strategic themes to enhance customer experience and value proposition. By identifying emerging long-term trends that are strategically relevant, QNB has sought to generate meaningful contributions to the bottom line, whether through new revenue opportunities or cost savings.
Differentiation within the competitive MEA market is built on several foundations. QNB highlights its strong credit ratings, brand value, relationships and international network. It is among the highest-rated banks in the region by S&P (A+), Moody’s (Aa2) and Fitch (A+). These ratings are supported by close relationships with both government and private sector clients across its footprint.
“At QNB, we innovate by embracing new technologies and strategic partnerships to deliver meaningful impact on the bottom line, reinforcing our position as a leading bank in the region and further afield,” says Al-Khalifa.
KEY DATA
End 2024
Total assets: $356.5bn
Net profit: $4.6bn
Capital adequacy ratio: 19.2%
Loan-to-deposit ratio: 96.8%