Company Insights Qatar National Bank Banking & Finance Qatar National Bank News Banking & Finance Qatar National Bank’s profit rises 8% to $4.14bn in 2023 Qatar National Bank (QNB), the largest Gulf bank by assets, said 2023 net profit rose eight percent to QR15.5 billion ($4.14 billion), driven by loan growth and higher operating income. Operating income jumped 11 percent year on year to QR39.1 billion, the bank said in a statement. Total assets stood at QR1.23 trillion by the […] January 12, 2024 Analysis Banking & Finance Turkey and Egypt can trip up Gulf lenders says analyst Gulf banks are in a resilient position as oil production cuts crimp economic growth, but lenders could face headwinds from macroeconomic volatility in Egypt and Turkey, an S&P Global analyst said this week. In Turkey, Dubai’s Emirates NBD owns Denizbank and Qatar National Bank owns QNB Finansbank, the country’s eighth and ninth largest banks by […] October 12, 2023 Finance Qatar National Bank profit up 8% on high loan growth Qatar National Bank (QNB), the Gulf’s biggest bank by assets, reported an 8 percent increase in third-quarter 2023 net profit to QR4.31 billion ($1.18 billion) from QR3.99 billion a year earlier, spurred by higher loan growth. Net profit reached QR11.9 billion, up eight percent year on year in the first nine months of 2023, as […] October 11, 2023 Banking & Finance Gulf sees potential in Turkish energy and defence Saudi Arabia and the UAE will invest in the Turkish defence and energy sectors, new reports citing identified sources suggest. If the Reuters report is accurate, the expected investments reflect a growing closeness between Turkey and the longstanding Gulf allies. Gulf support could be vital for Turkey, which is struggling with soaring inflation, a collapse […] June 22, 2023 QIA to hire ex-Credit Suisse to support investment team Qatar Investment Authority (QIA), the Gulf nation’s $450 billion sovereign fund, is likely to hire Hussam Qasim from Credit Suisse Group AG to boost its domestic investment team. Qasim will join in the coming months, Bloomberg reported citing informed sources. He was previously a director for investment banking and capital markets for Credit Suisse in […] June 20, 2023 Banking & Finance QIA sovereign fund eager to invest in Asia and US Qatar Investment Authority, the world’s 10th-largest sovereign wealth fund by assets, will expand its portfolio in the United States and Asia – particularly China and India – and aims to take advantage of more “investor-friendly” deal terms. Several senior QIA executives outlined the fund’s plans to Bloomberg this week in what were rare public comments […] June 14, 2023 Energy Aramco dividends outstrip rival blue-chips Saudi Aramco’s payouts of dividends surpass those of other leading global companies, and the world’s top oil producer provides sizeable returns for its shareholders in monetary terms. Aramco listed on Riyadh’s bourse in December 2019 following a $29.4 billion initial public offering that sold around 1.7 percent of the government-owned company’s stock. Since then, it […] May 31, 2023 Analysis Banking & Finance Qatar’s QIA challenges UBS Credit Suisse takeover The Qatar Investment Authority (QIA) is said to be considering taking legal action against the Swiss financial authorities following the forced takeover of Credit Suisse by domestic rival UBS. The Qatari fund increased its stake in Credit Suisse in late 2022 as part of the ailing lender’s ultimately failed attempts to bolster its finances following […] May 18, 2023 Economy Qatar announces revamp of sovereign wealth fund Qatar will reorganise its sovereign wealth fund in what will be its latest economic reform following the successful staging of last year’s Fifa World Cup. The Qatar Investment Authority (QIA) is the world’s 10th largest sovereign wealth fund with $475 billion of assets under management according to the Sovereign Wealth Fund Institute. The country’s ruler […] May 17, 2023 Analysis Economy Gulf awaits vital Turkish election results The Turkish presidential and parliamentary elections on Sunday will be keenly watched by Gulf investors who have bet billions of dollars on the world’s 19th-largest economy. Should incumbent president Recep Tayyip Erdoğan and his ruling AK Party again prevail in the votes, Turkey will maintain its unorthodox monetary policies. The central bank has slashed interest […] May 12, 2023 Posts navigation Previous 1 2 3 4 Next
Banking & Finance Qatar National Bank’s profit rises 8% to $4.14bn in 2023 Qatar National Bank (QNB), the largest Gulf bank by assets, said 2023 net profit rose eight percent to QR15.5 billion ($4.14 billion), driven by loan growth and higher operating income. Operating income jumped 11 percent year on year to QR39.1 billion, the bank said in a statement. Total assets stood at QR1.23 trillion by the […] January 12, 2024
Analysis Banking & Finance Turkey and Egypt can trip up Gulf lenders says analyst Gulf banks are in a resilient position as oil production cuts crimp economic growth, but lenders could face headwinds from macroeconomic volatility in Egypt and Turkey, an S&P Global analyst said this week. In Turkey, Dubai’s Emirates NBD owns Denizbank and Qatar National Bank owns QNB Finansbank, the country’s eighth and ninth largest banks by […] October 12, 2023
Finance Qatar National Bank profit up 8% on high loan growth Qatar National Bank (QNB), the Gulf’s biggest bank by assets, reported an 8 percent increase in third-quarter 2023 net profit to QR4.31 billion ($1.18 billion) from QR3.99 billion a year earlier, spurred by higher loan growth. Net profit reached QR11.9 billion, up eight percent year on year in the first nine months of 2023, as […] October 11, 2023
Banking & Finance Gulf sees potential in Turkish energy and defence Saudi Arabia and the UAE will invest in the Turkish defence and energy sectors, new reports citing identified sources suggest. If the Reuters report is accurate, the expected investments reflect a growing closeness between Turkey and the longstanding Gulf allies. Gulf support could be vital for Turkey, which is struggling with soaring inflation, a collapse […] June 22, 2023
QIA to hire ex-Credit Suisse to support investment team Qatar Investment Authority (QIA), the Gulf nation’s $450 billion sovereign fund, is likely to hire Hussam Qasim from Credit Suisse Group AG to boost its domestic investment team. Qasim will join in the coming months, Bloomberg reported citing informed sources. He was previously a director for investment banking and capital markets for Credit Suisse in […] June 20, 2023
Banking & Finance QIA sovereign fund eager to invest in Asia and US Qatar Investment Authority, the world’s 10th-largest sovereign wealth fund by assets, will expand its portfolio in the United States and Asia – particularly China and India – and aims to take advantage of more “investor-friendly” deal terms. Several senior QIA executives outlined the fund’s plans to Bloomberg this week in what were rare public comments […] June 14, 2023
Energy Aramco dividends outstrip rival blue-chips Saudi Aramco’s payouts of dividends surpass those of other leading global companies, and the world’s top oil producer provides sizeable returns for its shareholders in monetary terms. Aramco listed on Riyadh’s bourse in December 2019 following a $29.4 billion initial public offering that sold around 1.7 percent of the government-owned company’s stock. Since then, it […] May 31, 2023
Analysis Banking & Finance Qatar’s QIA challenges UBS Credit Suisse takeover The Qatar Investment Authority (QIA) is said to be considering taking legal action against the Swiss financial authorities following the forced takeover of Credit Suisse by domestic rival UBS. The Qatari fund increased its stake in Credit Suisse in late 2022 as part of the ailing lender’s ultimately failed attempts to bolster its finances following […] May 18, 2023
Economy Qatar announces revamp of sovereign wealth fund Qatar will reorganise its sovereign wealth fund in what will be its latest economic reform following the successful staging of last year’s Fifa World Cup. The Qatar Investment Authority (QIA) is the world’s 10th largest sovereign wealth fund with $475 billion of assets under management according to the Sovereign Wealth Fund Institute. The country’s ruler […] May 17, 2023
Analysis Economy Gulf awaits vital Turkish election results The Turkish presidential and parliamentary elections on Sunday will be keenly watched by Gulf investors who have bet billions of dollars on the world’s 19th-largest economy. Should incumbent president Recep Tayyip Erdoğan and his ruling AK Party again prevail in the votes, Turkey will maintain its unorthodox monetary policies. The central bank has slashed interest […] May 12, 2023
