(MENAFN- Gulf Times) QNB, Qatar's largest lender by assets, is planning expansion in the South East Asia in view of the growing 'East-West' trade between Qatar and Asia.
This was disclosed by QNB group chief executive Ali Ahmed al-Kuwari in the bank's annual strategy conference held in Oman for the first time. The theme of the two-day conference was built around QNB Group's stated vision of being a "Middle East and Africa Icon" by 2017, and focused on highlighting best practices to develop the group's strategy both domestically and internationally.
This is for the first time the group strategy conference being held in Oman, where QNB opened its first Gulf Cooperation Council branch in 2007. Today, it has six branches located across the country.
QNB, which recently opened a representative office in Ho Chi Min City in Vietnam, views Asia as "strategically important", al-Kuwari said.
"Vietnam is another significant step in our international expansion strategy and the strong and resilient emerging market of Asia is strategically important to us moving forward," he said.
Highlighting that the increasing flow of "East-West" trade between Qatar and Asia is very much part of its future plans; he said "QNB is keen to develop opportunities that present themselves to us as our reputation and presence in South-East Asia grows."
QNB, which has assets to the tune of QR501.56bn, has reported a net profit of QR2.68bn in the first three months of this year.
The strategy conference is the perfect setting to allow it the opportunity to discuss, share and reflect upon its progress and business plans but importantly it also provides the ideal forum to project the aspirations as a group, a bank spokesman said, adding the participants included group's executive management team in Qatar, and general managers, and executive management representatives from the QNB international network.
QNB Group's presence through its subsidiaries and associates extends to more than 27 countries across three continents providing a comprehensive range of value added products and services.
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