QNB Group

Qatar National Bank (QNB Group) (Arabic: بنك قطر الوطني) is a Qatari multinational commercial bank headquartered in Doha, Qatar. It was founded in 1964 and currently has subsidiaries and associates in 31 countries spanning three continents. The bank's ownership is evenly divided between the Qatar Investment Authority and members of the public.[4]

Qatar National Bank Q.P.S.C.
TypePublic
QE: QNBK
IndustryBanking and Financial services
FoundedJune 6, 1964 (1964 -06-06) as Qatar National Bank[1]
Headquarters
Doha
,
Qatar
Area served
Worldwide[2]
Key people
ProductsCredit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, securities, asset management
Increase US$9.6 billion (2022) [3]
Increase US$4.4 billion (2022) [3]
Total assetsIncrease US$327 billion (2022) [3]
Total equityIncrease US$29.0 billion (2022) [3]
Number of employees
Increase 29,000 (2019)
ParentQatar Investment Authority (50%)
Websitewww.qnb.com

History

QNB was founded on 6 June 1964 as the country's first domestically-owned commercial bank. It had 35 employees in its first year and was initially headquartered in a government-owned building in Qatar's capital city, Doha.[5] The two currencies in circulation at the time were the Indian rupee and British pound. As Qatar's population continued increasing through the century, QNB started establishing branches in other parts of the country.[5]

In 1974, the first branches outside of Doha were opened in Al Khor and Mesaieed. The bank installed its first ATMs in 1988 in its Doha branches, and, in the next year, introduced VISA cards for its clients.[5] By 2015, it had established 76 branches in Qatar.[5] Qatar National Bank (QNB) controls an 82.59 percent stake in Bank QNB Indonesia.[6]

For the nine months ended September 30, 2020, net profit was QR 9.5 billion (US$ 2.6 billion). Total assets also increased by 8% since September 30, 2019, to reach QR986 billion (US$271 billion).[7]

Data leak

A leak of data from the bank was made public in April 2016. The leaked files were published on Cryptome.[8]

The files contained the personal data of the bank's clients, as well as credit card information and passwords. The leak was divided into folders for individual groups of clients; these included Qatar's Al Thani family, state security officials, staff of Al Jazeera Media Network, the news organisation endowed by the Qatari state, former Qatari national intelligence agency Mukhabarat, UK's currently active foreign intelligence counterpart MI6 and their nondescript French and Polish counterparts.[9][10]

See also

icon Banks portal

References
  1. "Qatar National Bank". Forbes. Retrieved 6 July 2015.
  2. "About QNB". Qatar National Bank. Retrieved 6 July 2015.
  3. "Financial Results For The Year Ended 31 December 2022". QNB Group. Retrieved 1 April 2023.
  4. "فروع بنك قطر الوطني QNB فى قطر". 10 November 2020. Archived from the original on 10 November 2020. Retrieved 10 July 2022.
  5. "50 years of national pride". Gulf Times. 9 June 2014. Retrieved 6 July 2015.
  6. "How embargo affects Qatar investment in Indonesia". The Jakarta Post. Retrieved 27 December 2018.
  7. "9.5 مليار ريال.. أرباح مجموعة بنك قطر الوطني في الشهور التسعة الأولى من العام الجاري - جريدة الراية". 15 October 2020. Archived from the original on 15 October 2020. Retrieved 3 August 2022.
  8. Parasie, Nicolas & Fitch, Asa (27 April 2016). "Qatar National Bank Probes Alleged Leak of Clients' Data". Wall Street Journal. Retrieved 27 April 2016.
  9. Haran, Varun (26 April 2016). "Qatar National Bank Suffers Massive Breach". Information Security Media Group, Corp. Retrieved 22 January 2021.
  10. Edwards, Simon (27 April 2016). "Qatar Bank Breach Lifts the Veil on Targeted Attack Strategies". Trend Micro UK blog. Retrieved 22 January 2021.
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