QNB Group yesterday formally announced that it has obtained the regulatory approvals from Hong Kong Monetary Authority to open a branch in Hong Kong, one of the world’s global financial hubs.
The branch will provide a full range of banking products and services. It will also offer its award-winning expertise in the areas of trading securities and wealth management, as well as other innovative banking solutions.
Abdulla Mubarak Al-Khalifa, QNB Group Acting CEO, said: “Receiving the approval to open a branch in such an important market is another vital step in QNB Group’s international expansion plans to support its growth strategy and market leadership in MEASEA, as well as establish a foothold in highly competitive markets.”
Al Khalifa added: “Growth in both Hong Kong and China is expected to continue, driven by trade opportunities, direct investments, and large infrastructure spending opportunities, and the Hong Kong branch offers the opportunity to leverage QNB’s in-depth expertise to capture investment and trade flows in this promising market.” A significant volume of Hong Kong’s trade flows through countries where QNB Group is present. Hong Kong is the gateway for QNB Group’s clients to mainland China and wider Asia and is the first stop for globalizing
Chinese corporates. Moreover, the branch can further assist Chinese investments in the Middle East and Africa.
QNB Group has maintained its position as one of the highest rated regional banks from leading credit rating agencies including Standard & Poor’s (A), Moody’s (Aa3), Fitch (A+), and Capital Intelligence (AA-).
Based on the Group’s consistent strong financial performance and its expanding international presence, QNB is currently ranked as the most valuable bank brand in the Middle East and Africa, according to Brand Finance Magazine.
Source from: The Peninsula