QNB Group opens new branch in Riyadh
RIYADH, May 6, 2017
QNB Group, a leading banking group in Qatar, has opened its newest branch in Riyadh, Saudi Arabia, as part of its regional expansion strategy.
Dr Ahmed bin Abdul Karim Al Khulaifi, the governor of the Saudi Arabian Monetary Authority (Sama) inaugurated the facility in the presence of Sheikh Abdullah Bin Saud Al Thani, the governor of Qatar Central Bank, Ali Ahmed Al Kuwari, QNB Group chief executive and a number of Qatari diplomats.
Through this branch, located in the key business hub extending along King Fahd road, QNB Group will provide a comprehensive suite of banking products and services to individuals, businesses, and government departments.
Speaking on the occasion, Al Kuwari said the Riyadh launch is part of the group’s strategic plan to be present in all markets that have a strong and resilient economy.
"Saudi Arabia is one of these economies, especially considering its ranking among the world’s 20 strongest economies," he noted.
QNB Group is present, through its subsidiaries and associate companies, in more than 31 countries across three continents, providing a comprehensive range of products and services.
"Through our presence in Riyadh, we strive to become a major partner in promoting the kingdom’s economic development by providing banking solutions to individuals, businesses, and government departments in both Saudi Arabia and Qatar," stated Al Kuwari.
He also praised the Saudi government for its support of the banking industry, as evidenced by the implementation of streamlined procedures for the establishment of foreign banks, and for facilitating the authorization process to open a branch for the bank in the kingdom.
The QNB Group staff strength exceeds 28,000 operating through more than 1,250 locations with a network of 4,300 ATMs, he added.-TradeArabia News Service
