Doha: QNB, the largest financial institution in the Middle East and Africa (MEA) region, has emerged as the most valuable brand in Qatar with a brand value of $7.1bn in the latest report by Brand Finance – the world’s leading brand valuation consultancy. As per the ‘Global 500 2022’ ranking posted on the website of Brand Finance, QNB is placed at 305th rank among the world’s top 500 most valuable brands.
QNB has improved its brand value and ranking in the last one year. In the last year’s ranking by Brand Finance, QNB’ brand value was $6.1bn. Also, the bank was placed at 321st rank among the world’s top 500 most valuable brands in 2021.
Despite the challenges posed by COVID-19 pandemic, QNB has continued on its impressive growth trajectory. It has posted net profit of QR13.2bn ($3.6bn) for the year ended December 31, 2021, which is an increase of 10 percent compared to last year.
Total Assets reached QR1093bn ($300bn), an increase of 7 percent from December 31, 2020, mainly driven by strong growth in loans and advances by 6 percent to reach QR764bn ($210bn). QNB had announced in January 2021, that for the first time in history of the region, it became the first banking institution to record total assets of QR1 trillion ($282bn), representing an increase of 9 percent from last year. QNB’s disciplined approach towards execution of its long-term strategy enabled the Group to achieve QR1 trillion Total Asset milestone after 56 years of successful operation since inception.
QNB has 27,000 staff resources operating from nearly 1,000 locations and 4,500 ATMs.
Every year, leading brand valuation consultancy Brand Finance puts 5,000 of the biggest brands to the test, and publishes nearly 100 reports, ranking brands across all sectors and countries. The world’s top 500 most valuable and strongest brands are included in the annual Brand Finance Global 500 ranking – now in its 16th year. According to the latest ranking, Apple has retained the title of the world’s most valuable brand following a 35 percent increase to $355.1bn – the highest brand value ever recorded in the Brand Finance Global 500 ranking.
Amazon and Google also saw good levels of growth, both keeping their spots in the Brand Finance Global 500 ranking behind Apple in 2nd and 3rd respectively.
