(MENAFN- The Peninsula)
The Peninsula
Doha, Qatar: QNB Group has achieved yet another exceptional year of strategic growth and accomplishments across various fronts, solidifying its position as the largest banking institution in the Middle East and Africa, operating in over 28 countries across three continents worldwide.
The Group sustained its strong financial performance, driven by expanding operations and a steadfast commitment to innovation, which was evident in its Financial Results for the year ended 31 December 2024.
QNB continued to support Qatar's development plans and its efforts to bolster the non-oil economy while maintaining high growth rates for the Qatari economy, one of the most powerful and promising regional economies at the global level.
As the Group reflects on the challenges and successes of the past year, it looks forward with confidence to embrace new achievements.
Abdulla Mubarak Al Khalifa, QNB Group CEO, said: "The bank's strong financial results underscore its solid financial standing, sustainable growth, and adaptability to market changes, which drive even stronger future performance. As we bolster our presence as a global banking brand, we are excited to embark on a new phase of growth and capitalize on promising opportunities in key markets. This supports our vision of becoming one of the leading banks in the Middle East, Africa, and Southeast Asia (MEASEA)."
QNB Group's key achievements over the past year reflect its ability to balance digital advancement, regional expansion, customer satisfaction, and sustainability.
Strong Financial Results and High Credit Ratings
In 2024, QNB Group achieved remarkable results coupled with strong operational and financial performance. The Group maintained high credit ratings, underscoring its resilience and strength.
The Group was culminated with international recognition from some of the world's most prestigious financial institutions. Notably, Abdulla Mubarak Al-Khalifa, QNB Group CEO, has ranked 10th on Forbes Middle East's annual list of the“Top 100 CEOs in the Middle East” for 2024. Additionally, Forbes listed QNB among the“Top 30 Banks in the Middle East” for 2024, in recognition of its robust liquidity, profitability, and capital adequacy levels.
This recognition highlights the Group's accomplishments, transcending traditional banking to establish itself as a financial institution rooted in excellence.
QNB has maintained a high credit rating, the highest in Qatar and among the highest globally, according to leading international rating agencies such as Standard & Poor's (A+) and Moody's (Aa2).
The Group's strong credit rating and stable long-term outlook enable it to access capital markets and expand growth opportunities. These ratings serve as a testament to the Group's robust capital position, successful strategy, sound governance, prudent risk management, and operational model. They also reflect the trust clients place in QNB's financial performance, strategic outlook, and ability to achieve sustainable growth.
Shaping the Future of Digital Services
During 2024, QNB Group reached a new milestone in its journey toward digital banking excellence, reaffirming its leadership in the local and regional markets. The Group introduced innovative products and services designed to meet customers' financial needs swiftly and securely. Among these were the Multi-Currency Travel Card, digital account opening services, and the virtual card feature available through the QNB Mobile App.
QNB also became the first bank to launch Visa's "Click to Pay" online payment service in Central and Eastern Europe, the Middle East, and Africa. This service offers customers a seamless and secure payment experience for online shopping.
Additionally, 2024 saw the launch of the "Fawran" service, providing customers with a unique payment experience powered by innovative technology, enabling instant and secure payments to anyone in Qatar using a mobile number or alias name. Later, the Group introduced the Request for Payment feature, simplifying transactions within Qatar with a fast and user-friendly approach.
Committed to supporting Qatar's digital leadership, QNB sponsored various events, including its participation as the Official Partner for the Ooredoo Group Digital Ecosystem Conference. This reflects the bank's dedication to the Qatar Digital Agenda 2030 and accelerating digital transformation to foster sustainable growth in the region.
In its efforts to shape the future of technology in the Middle East, QNB participated as a Diamond Sponsor at the Web Summit Qatar 2024, extending this sponsorship for the next four years. This platform for innovation and collaboration within the region's growing technology sector brought together entrepreneurs, leaders, and experts. During the summit, QNB unveiled several ground-breaking products, including its digital onboarding service, designed exclusively for the bank's new customers. This service allows them to easily open accounts, without the need to visit a branch.
These efforts garnered significant recognition, with QNB receiving multiple awards in 2024, such the“Best Digital Experience” during the Qatar Digital Business Award 2024 ceremony organized by the Ministry of Communications and Information Technology. QNB topped the digital banking leaders list by the Middle East Economic Digest (MEED) magazine with four distinguished awards:“Excellence in Product Marketing”,“Excellence in Omni-Channel Integration”,“Best Digital Wallet”, and the“Best Private Bank” awards.
Sustainability at the Core of Our Operations
QNB Group continued to champion sustainability initiatives in Qatar and the region, aligning with the United Nations Sustainable Development Goals and Qatar's National Climate Change Action Plan.
The Group's efforts were recognized as Abdulla Mubarak Al-Khalifa, the Group CEO, was named“Sustainability Leader in the Middle East” by Forbes for the second consecutive year. This accolade reflects the bank's achievements in sustainable finance and its leadership in advancing sustainability.
QNB's sustainable finance portfolio exceeded $9 billion, encompassing green, social, and sustainability-linked transactions. The Group also issued $1.1 billion in sustainable bonds. Earlier in 2024, QNB served as a lead coordinator for Qatar's first sovereign green bond issuance, valued at $2.5 billion. The Group also reported a 48% reduction in greenhouse gas emissions.
As part of its commitment to environmental sustainability, QNB actively participated as a strategic banking partner Strategic Banking Partnership of Expo 2023 Doha QatarTM, the first A1-class international horticultural expo held in the MENA. During the expo, QNB employees took the lead in planting the bank's garden.
Moreover, QNB signed an agreement with DHL Express, a global leader in logistics, to use sustainable aviation fuel (SAF) through the GoGreen Plus service, enhancing eco-friendly shipping solutions.
QNB's dedication to sustainable practices received global recognition. The Group was featured in TIME Magazine's prestigious list of the“World's Best Companies for Sustainable Growth 2025.” This acknowledgment highlights QNB's contributions to achieving sustainability goals, promoting sustainable financial growth, and reducing its carbon footprint.
At the 2024 Euromoney Awards for Excellence, QNB was honored as the“Best Bank in the Middle East for Environmental, Social, and Governance (ESG)”, recognizing its success in embedding sustainable practices within the financial sector.
Entrepreneurship and SME Support
QNB continued its efforts to support start-ups and the small and medium-sized enterprise (SMEs) sector in Qatar by strategically sponsoring key initiatives such as the "Ruwad" Conference and the 2024 Arab SMEs Summit, both hosted by Qatar Development Bank.
To enhance financial transaction efficiency for SMEs in alignment with global best practices in digital trade finance, QNB upgraded its digital trade finance platform. The Group achieved the highest growth in mobile payment transactions in Qatar among SMEs and small merchants, earning recognition from Visa, the global leader in digital payments.
QNB also introduced innovative payment solutions by providing its certification for Noqoody Payment Services' cutting-edge point-of-sale (PoS) solutions.
On the international front, QNB Egypt entered into a strategic partnership with the European Bank for Reconstruction and Development (EBRD), securing €70 million to support micro, small, and medium enterprises (MSMEs) in Egypt and mitigate credit risks for new financing.
For its achievements, QNB Al Ahli received notable global awards, including“Best Bank for SMEs” from Global Banking and Finance and“Best Bank for SME Initiatives” from The Digital Banker.
On a regional level, the Group continued to support start-ups-focused initiatives, including its Platinum Sponsorship of "Injaz Al-Arab," which fosters youth development. Additionally, QNB served as a Platinum Sponsor for the Qatar-Africa Business Forum in Morocco, held as part of the Qatar-Morocco 2024 Year of Culture, creating opportunities to build partnerships and leverage African talent for development.
New Partnerships
The year 2024 saw QNB establishing new partnerships across diverse sectors with key stakeholders including:
Ooredoo Partnership: QNB signed a historic 10-year financing agreement worth QAR 2 billion with Ooredoo to support the expansion of its data center network. This partnership opens new horizons in artificial intelligence and cloud computing.
Judiciary Collaboration: The Supreme Judiciary Council signed an exclusive, strategic five-year partnership with QNB to develop mechanisms for banking services such as the deposit and disbursement of legal claim amounts, judicial decisions, and rulings.
Real Estate: QNB formed a strategic alliance with Qatari Diar Real Estate Investment through a strategic agreement to finance the purchase of land plots in Huzoom Lusail project, a key real estate development in Lusail City.
In environment filed, QNB became the first bank in Qatar to join the Partnership for Carbon Accounting Financials (PCAF), underscoring its commitment to combating climate change in line with Qatar's endorsement of the Paris Agreement.
In the realm of corporate social responsibility, QNB signed a strategic partnership agreement with the Qatar Autism Society to support its pioneering efforts in raising awareness and creating an autism-friendly environment in Qatar.
Seeking to improve its financial growth, QNB Financial Services signed a liquidity provision agreement with Investment Holding Group (IGRD), which came into effect in November 2024.
At the international level, the Group made new partnerships such as the signing of QNB Egypt of 15 new strategic agreements with the European Bank for Reconstruction and Development (EBRD), raising the total value of their partnership to $830 million.
These partnerships and initiatives reflect QNB's unwavering dedication to fostering innovation, supporting economic growth, and building strategic alliances across key markets and sectors.
Innovative Social Responsibility Initiatives
In 2024, QNB Group solidified its leadership in social responsibility by implementing impactful, value-added initiatives aimed at benefiting all segments of society. These efforts focused on supporting the pillars of sustainable development across various societal domains, including health, education, sports, youth empowerment, scientific research, digital innovation, inclusion of people with special needs, environment, and fostering partnerships with national entities to achieve community development.
As part of its mission as a financial institution promoting positive values and creating opportunities for success, QNB organized several initiatives to foster social inclusion. Under the leadership of Ms. Hiba Al-Tamimi, Executive Vice President – Group Communications, and the Group's brand ambassador, star Ahmed Helmy; QNB visited Sidra Medicine Hospital to bring moments of hope and joy to children.
In a similar spirit, the bank visited the Autism Platform alongside Ahmed Helmy to strengthen its commitment to empowering children with autism and their families. This visit aligned with the strategic partnership agreement QNB signed earlier in the year with the Qatar Autism Society.
QNB demonstrated its dedication to healthcare by serving as a strategic sponsor of the World Innovation Summit for Health (WISH) 2024, a global initiative by Qatar Foundation. Additionally, the bank was a diamond sponsor of the "Precision Medicine and the Future of Genomics" Summit 2024, hosted by Sidra Medicine, fostering collaboration in translational medicine.
To raise awareness about diabetes, QNB celebrated World Diabetes Day by organizing initiatives such as illuminating its Corniche headquarters and international branches with blue lighting.
QNB actively promoted environmental awareness among students by serving as a Platinum Sponsor for the "For a Greener World" program organized by KidZania Doha. The program included workshops to educate children on sustainability through innovative learning techniques.
Additionally, the bank hosted a Fall Financial Literacy Camp for children in collaboration with the Teacher and Mother Educational Consulting Center. This camp offered activities to teach children the basics of financial management and decision-making from an early age.
Reinforcing Qatar's position as a hub for global business and trade, QNB served as a strategic partner for the 5th International Arbitration Conference, organized by the Qatar International Center for Conciliation and Arbitration. This effort highlighted Qatar as a leading destination for resolving commercial and investment disputes.
In the field of security and safety, QNB was a primary sponsor of the prestigious Milipol Qatar international security and civil defense exhibition. The bank also supported key events across sectors such as construction, hospitality, and tourism, including the Big 5 Construct Qatar 2024 and the EuroCHRIE Conference, organized by the European Council on Hotel, Restaurant, and Institutional Education.
QNB organized a workshop on safety and emergency response for over 200 employees, equipping them with certified training from the Civil Defense Department on fire safety and emergency procedures.
QNB Egypt continued its strategic partnership with "Good Makers for Development," part of the National Alliance for Development Work. Together, they launched initiatives to promote financial inclusion, empower women and children, and support academic excellence. Key achievements included the inauguration of schools such as Al-Noor School for the Blind in Assiut, providing tuition fees for 500 students of Menoufia University, and supporting clean water networks in Al Sharqia Governorate.
QNB Al Ahli also partnered with Al Hejaz Gardens Real Estate Development Company to offer customers exclusive financing solutions for affordable housing projects. Additionally, it collaborated with other Egyptian banks to provide joint financing worth EGP 50 billion to support Egypt's "Housing for All Egyptians" initiative, which focuses on low- and middle-income housing.
In Tunisia, QNB continued its CSR efforts with initiatives such as its second annual blood donation campaign in collaboration with the National Blood Transfusion Center. It also supported the Guardians of the Republic for Science and Culture Association by providing school supplies for students in need.
To promote women's sports, QNB Tunisia sponsored padel champions Aida El Fehri and Dorra Chamli for the 2024/2025 season, enabling them to represent Tunisia in the Asia-Africa World Padel Cup qualifiers for the first time. The bank also served as the gold sponsor of the Yasmine Open Tennis Tournament, part of the Women's Tennis Association (WTA) International Open.
The QNB Brand: A Pillar for Ambitious Growth
In a strategic move, QNB Group unified its brand identity across Egypt and Turkey under the single name“QNB,” enhancing its global presence and delivering a seamless banking experience for its customers.
In 2024, QNB was affirmed as the most valuable banking brand in the Middle East and Africa, according to Brand Finance, which ranks the top 500 banking brands globally. This recognition underscores QNB's regional leadership and its ambition for a stronger global standing among the world's leading banks.
The accolade reflects QNB's robust financial position, high-quality assets, and distinguished status in the banking sector, supported by a strong presence in key regional markets and global financial hubs.
The QNB brand stands as a national icon, symbolizing the bank's rich legacy while embodying its commitment to leadership and excellence, cementing its status as a global banking brand.
Cybersecurity Protection
QNB implements a proactive cybersecurity strategy, adhering to the highest international standards to address the evolving nature of digital threats. In 2024, QNB became the first bank to launch the“Stay Protected” cybersecurity awareness campaign, educating customers about fraudulent calls, cyber theft, and transaction security. This initiative supported Qatar Central Bank's national awareness campaign, "Stay Aware."
To enhance cybersecurity awareness and skills, QNB collaborated with the National Cybersecurity Agency (NCSA) to conduct a workshop for its employees, focusing on data and system protection, as well as building capabilities to counter advanced cyber threats.
The bank also hosted a cybersecurity awareness workshop for employees' children in partnership with KidZania, teaching them safe internet usage practices.
QNB's partnership with NCSA represents a critical step in fostering a culture of cybersecurity awareness among its customers and employees, aligned with Qatar's National Cybersecurity Strategy 2024–2030. The bank implemented strategic measures to protect client funds and personal data, including robust security protocols, educational content, and enhanced community outreach efforts.
Empowering National Talent
In 2024, QNB focused on enhancing employee performance and supporting Qatari talent development. The Learning and Development Team launched the“Ahlan QNB” program, aligned with Qatar National Vision 2030's human development pillar, graduating 25 Qatari employees certified through the program.
The bank also introduced the“Emerging Leaders” program, aimed at providing future Qatari leaders with essential skills and knowledge. Selected participants engaged in enriching programs, including courses at HEC Paris in Qatar and specialized banking training by Fitch Learning.
Additionally, QNB partnered with the Chartered Institute of Marketing (CIM) to enhance marketing capabilities of its employees. This first-of-its-kind collaboration between CIM and a financial institution in the Middle East enabled QNB employees to adopt global best practices in marketing, boosting productivity and career development. This partnership reinforces the bank's marketing functions and supports its business growth locally and globally.
To motivate its employees, QNB introduced the“QNB Rewards” app, offering a variety of exclusive benefits, discounts, and rewards across retail stores, restaurants, airlines, hotels, and more, both locally and internationally.
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