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QNB Group Commences Operations in India




DOHA, Qatar–(BUSINESS WIRE)–QNB
Group
, the largest financial institution in the Middle East and
Africa, has recently commenced operations in the city of Mumbai, the
economic capital of the Republic of India.

The start of the Group’s operations in the Republic of India comes in
support of its vision to become a leading bank in the Middle East,
Africa, and Southeast Asia by 2020, in addition to establishing a
foothold in highly competitive markets.

Through its new branch in India, the Group offers a full spectrum of
banking products and services. The Group also offers its rich experience
in wealth management, investment portfolios, project finance, and the
provision of smart banking solutions and a range of innovative products
and services designed to suit the requirements of the Indian market.

The Indian economy is the seventh largest in the world with an annual
GDP of USD2.3tn in 2016. It is the world’s second most populated country
and the fastest growing major economy. It has expanding trade and
population ties with Qatar and the Middle East region more broadly. In
particular, India is the third largest importer of liquefied natural gas
from Qatar.

It is worth mentioning that QNB recently topped The Banker magazine’s
and ranked Best Bank in the Middle East and Africa by Tier 1 capital, as
well as ranking 82nd among the Top 1000 World Banks.

QNB Group’s total assets reached USD211 billion as of 30 June 2017, the
highest ever achieved by the Group, and net profit for the six months
ended 30 June 2017 reached USD1.8 billion.

QNB Group’s presence through its subsidiaries and associate companies
extends to more than 31 countries across three continents providing a
comprehensive range of advanced products and services. The total number
of employees is more than 27,900 operating through more than 1,250
locations serving more than 21 million customers, with an ATM network of
more than 4,300 machines.

*Source: ME
NewsWire






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