There are numerous issues that banks across the world have to address in the 21st century. Nevertheless, bank groups that have already developed the most efficient business models and managed to expand their operations globally are in a comfortable position. The remarkable economic performance of various sectors of the economy in certain countries is directly linked to the government’s ability to establish a highly beneficial institution that manages to concentrate the nation’s resources and allocate them in a way that guarantees the most significant gains. It is especially true in the case of some major oil and gas exporters.
Several nations in the Middle East have managed to use their revenues from fossil fuels exports in a way that ensures sound financial standing of their institutions under any circumstances. Adam (2020) claims that numerous studies revealed the absence of a relationship between banking sector performance and oil prices. One of the most efficient banking institutions created in the region is QNB. Qatar National Bank was established in 1964 and rebranded as QNB in 2004 (QNB Group, n.d.). The bank managed to substantially enhance offerings in 2008 when it launched QNB Capital, which specializes in debt and project advisory services, equity, mergers and acquisitions. QNB Financial Services, established in 2011, expanded the framework further by providing services related to brokerage services, mutual funds, research and advisory intelligence, and asset management.
QNB is a commercial bank that currently operates in numerous countries across the globe. QNB Group controls substantial stakes in various banks in Turkey, Egypt, Jordan, Syria. The Middle East continues to be the bank’s target market. Moreover, the company continues to rapidly open branches in the most influential economic centers of the world, such as Hong Kong. QNB Group actively supports a broad range of social and educational programs, sporting events.
References
Adam, A. H. (2020). Petroleum prices & its impact on the financial performance of banking sector in Middle East region. East African Scholars Journal of Economics, Business and Management, 3(8), 9–18. Web.
Qatar National Bank (QNB Group). (n.d.). Web.