(MENAFN - Qatar News Agency) Qatar National Bank Group (QNB), The World's Strongest Bank, has consolidated its position as The Middle East and North Africa (MENA) Region's most valuable Brand according to The Annual Survey carried out by "Brand Finance" and published by "The Banker" Magazine, an affiliate to the international acclaimed "Financial Times" newspaper.
As the leading financial institution in the region, QNB Group achieved an increase in the value of its brand by USD 500million to USD1.81 billion, said QNB in a press release today
This represents a 38% increase on the 2012 levels achieved and importantly saw QNB rise to 101st globally in the rankings of the World's top 500 Banking Brands
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
Commenting on the achievement, 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 our 26 countries of operation
The Annual Brand Finance Survey confirms that we are making good progress and continue to be the best brand value across The MENA Region
Looking to the future, The QNB Group vision is to be a MEA (Middle East and Africa) icon by 2017"
Stringent judging criteria is used by Brand Finance in the value assessment process of Banking Brands
The factors considered 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 recognized 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 QR 9.5 billion in 2013 (an increase of 13.7% on 2012 levels) and Total Assets reaching an all time record (up 20.9%) high of QR 443 billion.