By Sarah Townsend
Gulf’s largest leader recently opened an office in Ho Chi Min as part of its global expansion plan
Qatar National Bank (QNB) plans further expansion in South East Asia as trade links strengthen between Qatar and Asia, its chief executive announced this week.
Arabian Business reported last month that QNB, the Gulf’s largest lender, had opened an office in Ho Chi Min, Vietnam, as part of an ambitious global expansion plan.
At the bank’s annual strategy conference in Oman, CEO Ali Ahmed Al Kuwari said Vietnam was “strategically important”, and that increasing flow of “East-West” trade between Qatar and Asia is very much part of QNB’s future plans.
“QNB is keen to develop opportunities that present themselves to us as our reputation and presence in South-East Asia grows,” he was quoted as saying in Gulf Times.
QNB opened its first GCC branch in Oman in 2007 and now has more than 615 branches in 27 countries across the world.
It reported a net profit of QR2.68 billion in the first three months of this year and has assets QR501.56 billion, the newspaper said.