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169428
Sat, 03/19/2011 - 20:37
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https://oananews.org//node/169428
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Qatar National Bank Named Best Retail Bank in Qatar for Year 2010
Doha, March 19 (QNA) - Qatar National Bank (QNB) was named the Best Retail Bank in Qatar for the year 2010 at The Asian Banker International Excellence in Retail Financial Services Awards, hosted by The Asian Banker magazine on the sidelines of its annual conference, held this year in Kuala Lumpur, Malaysia.
Over a hundred senior bankers and industry stakeholders attended the gala event which brought together representatives from all over Asia and the Middle East.
The awards programme, administered by The Asian Banker and adjudicated by prominent global bankers, consultants and academics, is among the most prestigious of its kind and followed many months of strict evaluation of the nominated financial institutions.
The focus of the programme is to recognise the banks that have been simplifying their processes and launching innovative products. These initiatives are ones that work and have an impact on the bottom line of banks as well as the industry.
The judges considered each bank's financial performance, business volume, sustainability of operations, sales capabilities, risk management framework, franchise value, credit ratings, quality of assets, efficiency ratios and many other non-financial performance indicators such as innovation, leadership, customer service, process and technology efficiency, distribution channels, and the transparency of its strategy. The overall scorecard covers 38 distinct indicators.
QNB won the award by demonstrating consistently high levels of product, service and customer relationship management excellence and innovation whilst delivering new and reliable solutions to customers including the country's first mobile-phone payment solution eazypay, as well as a dedicated Mobile Banking Application that allows users to complete their transactions via their mobile phones.
Other key products and services launched in 2010 included a dedicated cash deposit card, the country's first Titanium MasterCard, and the QNB-Qtel Nojoom card which is first credit card in the country launched in partnership with Qatar Telecom (Qtel) that accumulates points redeemable by customers participating in the telecom operator's loyalty program.
QNB, which operates the country's most extensive network, was also active in the expansion of its branch network in Qatar, with additional branches opened in strategic locations, along with more ATMs to meet growing demand.
In the year ended 31 December 2010, QNB Group was able to deliver Net Profit of QR5.7bn, representing an increase of 35.8% year-on-year. The Bank's total assets increased by 24.6% to reach QR223.4bn, whilst Loans and advances and financing activities reached QR131.7bn, representing an increase of 21.1%, with the ratio of non-performing loans to total loans standing at 0.9%. These figures clearly demonstrate QNB Group success in maintaining the high quality of its loan portfolio through an effective risk management approach.
Customer deposits and unrestricted investment accounts increased by 31.5% during the year to reach QR165.5bn, which has positively impacted liquidity as the loans to deposits ratio stood at 80% for 2010, compared to 86% for 2009.
In 2010, Total equity attributable to shareholders reached QR24.2bn, up by 23.1% over 2009. The strong growth in profitability increased earnings per share to QR14.6 from QR10.7 in 2009.
QNB Group's ratings from the leading international ratings agencies including Standard & Poor's, Capital Intelligence, Fitch and Moody's continue to be the highest and on par with a small group of leading financial institutions in the region. (QNA)
Over a hundred senior bankers and industry stakeholders attended the gala event which brought together representatives from all over Asia and the Middle East.
The awards programme, administered by The Asian Banker and adjudicated by prominent global bankers, consultants and academics, is among the most prestigious of its kind and followed many months of strict evaluation of the nominated financial institutions.
The focus of the programme is to recognise the banks that have been simplifying their processes and launching innovative products. These initiatives are ones that work and have an impact on the bottom line of banks as well as the industry.
The judges considered each bank's financial performance, business volume, sustainability of operations, sales capabilities, risk management framework, franchise value, credit ratings, quality of assets, efficiency ratios and many other non-financial performance indicators such as innovation, leadership, customer service, process and technology efficiency, distribution channels, and the transparency of its strategy. The overall scorecard covers 38 distinct indicators.
QNB won the award by demonstrating consistently high levels of product, service and customer relationship management excellence and innovation whilst delivering new and reliable solutions to customers including the country's first mobile-phone payment solution eazypay, as well as a dedicated Mobile Banking Application that allows users to complete their transactions via their mobile phones.
Other key products and services launched in 2010 included a dedicated cash deposit card, the country's first Titanium MasterCard, and the QNB-Qtel Nojoom card which is first credit card in the country launched in partnership with Qatar Telecom (Qtel) that accumulates points redeemable by customers participating in the telecom operator's loyalty program.
QNB, which operates the country's most extensive network, was also active in the expansion of its branch network in Qatar, with additional branches opened in strategic locations, along with more ATMs to meet growing demand.
In the year ended 31 December 2010, QNB Group was able to deliver Net Profit of QR5.7bn, representing an increase of 35.8% year-on-year. The Bank's total assets increased by 24.6% to reach QR223.4bn, whilst Loans and advances and financing activities reached QR131.7bn, representing an increase of 21.1%, with the ratio of non-performing loans to total loans standing at 0.9%. These figures clearly demonstrate QNB Group success in maintaining the high quality of its loan portfolio through an effective risk management approach.
Customer deposits and unrestricted investment accounts increased by 31.5% during the year to reach QR165.5bn, which has positively impacted liquidity as the loans to deposits ratio stood at 80% for 2010, compared to 86% for 2009.
In 2010, Total equity attributable to shareholders reached QR24.2bn, up by 23.1% over 2009. The strong growth in profitability increased earnings per share to QR14.6 from QR10.7 in 2009.
QNB Group's ratings from the leading international ratings agencies including Standard & Poor's, Capital Intelligence, Fitch and Moody's continue to be the highest and on par with a small group of leading financial institutions in the region. (QNA)
