*The Banker*, leading industry magazine and part of the Financial Times Group, has named Qatar National Bank (QNB) the Best Bank in Qatar for 2005.
In order to meet the criteria for the award, banks must demonstrate extraordinary growth and performance in terms of tier-one capital, assets and return on equity. The winning bank is required also to demonstrate how the use of technology is helping it advance its market position and show how the bank’s structure and strategies equip it for future developments in the market.
Mr. Ali Sherif Al Emadi, Acting Chief Executive, QNB, said: *”Historically, QNB has always been the leader in Qatar’s financial market. We are following our strategies to boost our performance and customer satisfaction and appreciate this recognition by The Banker Awards jury.”*
*The Banker* cited QNB’s range of innovative products and services to both the retail and corporate customers as another factor for the industry’s top award. QNB’s regional plans, coupled with its decision to acquire the London-based financial services specialist **Ansbacher Group** further helped it win the award.
In July 2004, QNB concluded an agreement to buy Ansbacher Group from South Africa’s First Rand Group. Ansbacher – which has a staff of 350 worldwide – operates in the UK, Dubai, the Channel Islands, the Cayman Islands, **The Bahamas** and Switzerland. Mr. Al Emadi said the acquisition fits their long-term strategic objectives to boost private banking operations. *”More specifically, the acquisition enables us to expand our presence and product offerings, particularly in the area of wealth management.”*
QNB has been the recipient of the award “Best Bank in Qatar” from other leading international financial publications including Euromoney and Global Finance.