QNB Group, the largest financial institution in the Middle East and Africa, has opened officially its branch in Hong Kong, one of the world’s prominent global financial hubs.
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. It is a major trade hub accounting for USD 1,077.5 billion in imports and exports.
The 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 South East 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.
It is worth mentioning that QNB already has a presence in Asia, through 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. The total number of employees is more than 28,000 operating through 1,000 locations, with an ATM network of more than 4,600 machines.
SOURCE QNB Group (press release)
