QNB establishes its footprint in Asia with Hong Kong entry
By Leandra Monteiro
QNB Group, the largest financial institution in the Middle East and Africa, has opened officially its branch in Hong Kong, an important global financial hub.
Commenting on the occasion, QNB Group CEO, Mr. Abdulla Mubarak Al-Khalifa said, “We are pleased to announce the official opening of our first branch in Hong Kong, one of the most attractive markets in the world. As part of our Group’s strategy to expand into strategically located markets with excellent infrastructure and a business friendly environment, we are planning to continue diversifying our sources of revenue and profit, particularly in the MEASEA markets.”
As a newcomer to the market, QNB seeks to position itself as a reputable foreign bank to customers with trade and investment flows between Hong Kong, the Middle East, Africa, and Mainland China. The Branch aims to facilitate cross border business with a range of corporate banking products and services, treasury and investments, foreign exchange solutions, syndication strategies, and project financing.
Hong Kong is the gateway for the Group’s clients to Mainland China and wider Asia. The new Branch will work closely with the Group’s global network, and particularly the Singapore branch and Shanghai representative office. It will advise QNB’s clients in China on their outbound growth through Hong Kong as a base and will link with Singapore to cover Southeast Asia region.
In its keenness to become a leading bank in the Middle East, Africa and South East Asia, the Group’s presence in Hong Kong reflects its commitment to develop a successful market expansion strategy, through in-depth insight and understanding.
QNB already has a presence in Asia, with branches in Singapore and India, a subsidiary in Indonesia, and representative offices in China, Vietnam and Myanmar. The QNB Group’s presence through its subsidiaries and associate companies extends to more than 31 countries across three continents, providing a comprehensive range of advanced products and services.
IBSi Daily News Analysis
September 21, 2023
Why is AI/ML causing “tech anxiety” to the retail sector?Read More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage
Other Related News
September 20, 2023