Qatar

1. PRESS RELEASE
QNB Group Welcomes Saudi Cabinet’s Approval to open its
branch in the Kingdom
Doha- Sep 15, 2015
QNB Group welcomed the Saudi Cabinet’s approval to open its branch in the
Kingdom, this move will enable QNB to enter one of the biggest markets in the
GCC and the world’s financial market.
QNB Group CEO Mr. Ali Ahmed Al Kuwari has expressed his deep gratitude and
thanks to the government of His Majesty Custodian of the Two Holy Mosques for
its continuous efforts and keenness to support the banking sector in the kingdom
for the benefit of everyone”.
“The approval of the Saudi Cabinet to license the Group represents a milestone
in QNB’s journey and strategy to expand in selected markets, especially that the
Kingdom of Saudi Arabia is one of the largest and most important markets that
leads the Arab economies and one of the most effective and influencing markets
in the world.” Added Al Kuwari.
QNB Group CEO also said: “The banking sector in the kingdom enjoys a solid
infrastructure and provides a healthy competitive environment with its well-
established financial institutions; thus, QBN Group - with its expertise and large
network covering three continents - is delighted to be an active part of this
promising Saudi market.”
The Saudi economy is the largest in the GCC region and the largest oil producer
in the world, offering great opportunities for the private sector. it also has many
advantages including stable performance and large international reserves in light
of the low levels of debt and the strong growth rates.
QNB Group, the leading financial institution in the MENA region, currently
present through its subsidiaries and associate companies in more than 27
countries across Asia, Africa, and Europe providing a comprehensive range of
advanced products and services. The total number of employees is more than
14,900 operating through more than 630 locations, with an ATM network of more
than 1,340 machines.
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