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Satyendra Pathak
Doha
Qatar National Bank (QNB) Group, which in 2017 registered highest profit in its history despite the ongoing blockade, is working internationally to strengthen its presence in the Middle East, Africa and Southeast Asia (MEASEA) by expanding its network or through acquisitions, its chairman said on Sunday.
Addressing the bank's ordinary general assembly in Doha, Minister of Finance and QNB Chairman HE Ali Shareef al Emadi said the bank posted the highest profit in its history in 2017, thanks to its solid financial position and expansion of its global network.
Emadi said the group's international operations continued to achieve a high rate of profit, which amounted to 36 percent of the total profit.
"The QNB Group would continue to expand in the international market. We have embarked on our journey to become a leading bank in MEASEA by 2020," Emadi said.
QNB Group, he said, continues to perform in line with its growth target as envisioned in MEASEA 2020 strategy.
"We see the recent developments as an opportunity to nurture the local private economy and also to further diversify QNB's balance sheet in line with our international expansion plans," he said.
The group's continuing diversification, both geographically and in terms of products and services, positively contributes to lowering the risk and volatility of the business, he said.
