(MENAFN- The Peninsula) Qatar National Bank (QNB) has been named once again as one of the World's 50 safest banks in the emerging markets, according to the latest update published by Global Finance Magazine in 2013, a press release said yesterday.
QNB was ranked Number 1 in Qatar and rated Number 3 Arab Bank in the Global Finance list. This is an Annual Survey and the findings are based around both the evaluation of long-term credit ratings - provided by Moody's, Standard & Poor's and Fitch Ratings - and the total assets of the 500 largest banks worldwide.
QNB Group is amongst the highest rated of regional banks with credit ratings of Standard & Poor's (A+), Moody's (Aa3), Fitch (A+), and Capital Intelligence (AA-) The Bank has also been the recipient of many awards from leading international specialized financial publications.
The Group recorded net profit, for the nine months ended 30 September 2013, of QR7.1bn, up by 14.1 percent compared to the same period last year. This was driven by operating income, including the share of results of associates, which increased to QR10.9bn, up by 29 percent compared to September 2012, demonstrating QNB Group's success in achieving strong growth across the range of revenue sources. Total assets increased by 24.5 percent from 30 September 2012 to QR437bn, the highest ever achieved by the group.
With the addition of a new subsidiary in India and a new office in China, the Group's presence through its subsidiaries and associate companies increased to 26 countries worldwide. The total number of employees is approximately 13,500 operating from over 570 locations, with an ATM network of over 1,200 machines.
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