Launch of Al Jazeera 360 platform
Al Jazeera Media Network will launch its new digital platform “Al Jazeera 360...
Sep 14, 2024
Six Qatari banks, including QNB Group, QIB, and Masraf Al Rayan, are named among Forbes Middle East's 30 Most Valuable Banks 2024, showcasing the strength and resilience of Qatar's banking sector.
Muneeb M, Apr 16, 2024
Doha, Qatar - In a testament to the strength and resilience of Qatar's banking sector, six Qatari banks have been named among the "30 Most Valuable Banks 2024" in the Middle East by Forbes Middle East magazine.
The list, featured in the April 2024 issue, includes the following Qatari institutions:
#5. QNB Group
- CEO: Abdulla Mubarak Al Khalifa
- Market Value: $38 billion
- QNB Group operates in over 28 countries, serving more than 30 million customers through a network of nearly 1,000 branches. The bank's total assets reached $338.2 billion in December 2023, with a net profit of $4.3 billion - an 8.4% increase year-over-year. In October 2023, QNB launched its digital payment solutions platform, the QNB Payment Gateway, in Qatar.
- Qatar Investment Authority owns 51.84% of QNB Group.
#13. Qatar Islamic Bank (QIB)
- CEO: Bassel Gamal
- Market Value: $13.1 billion
- QIB is Qatar's first Islamic financial institution, established in 1982. It has a network of 23 branches in Qatar and one in Sudan, as well as investments in the UK and Lebanon. QIB's net profit hit $1.2 billion in 2023, while its total assets stood at $52 billion. In November 2023, the bank issued a $500 million five-year sukuk.
- Qatar Holding, the investment arm of Qatar Investment Authority, is QIB's largest shareholder with a 16.87% stake.
The other Qatari banks on the list are Masraf Al Rayan (#21), Dukhan Bank (#23), Commercial Bank (#24), and Qatar International Islamic Bank (QIIB) (#27).
In total, the six Qatari banks on the Forbes Middle East list have a combined market value of $73.6 billion, highlighting the strength and prominence of Qatar's banking sector within the broader MENA region.
The Forbes Middle East "30 Most Valuable Banks 2024" list features entities from seven markets, with 26 entries being Gulf-based. The aggregate market value of the 30 most valuable banks has grown by 14% over the last 12 months, reaching $581.1 billion as of February 2024.
Source: Forbes Middle East
Al Jazeera Media Network will launch its new digital platform “Al Jazeera 360...
Sep 14, 2024
Radisson Blu Hotel, Doha is thrilled to announce the return of its highly ant...
Aug 21, 2024
Eid al-Adha, or the "Festival of Sacrifice," is one of the most significant c...
May 21, 2024
To Celebrate Eid Al Adha and Beat the Summer Heat
Jun 11, 2024
Waldorf Astoria Doha is delighted to officially announce the Grand Opening of...
Jun 11, 2024
Subscribe to our newsletter !
Oct 18, 2024
The ceremony honored 290 graduates from seven schools under Qatar Foundation’...
Jun 04, 2024
The MICHELIN Guide announced its arrival in Doha, Qatar for an upcoming 2025...
Jun 04, 2024
52nd Amir Cup Final Tickets: May 24, 2024, Education City Stadium.
May 20, 2024
Qatar Cabinet approved a proposal to allow children to enroll in kindergarten...
May 23, 2024
With Discover Qatar's shuttle bus service, arrive at the HIA and visit Doha’s...
May 22, 2024
Raize The Right Choice
Oct 18, 2024