QNB Named Best Bank in Qatar at Euromoney Awards for Excellence 2011

Doha, June 21 (QNA) - Qatar National Bank (QNB) was selected for the 8th time as the Best Bank in Qatar at the Euromoney Awards for Excellence 2011, which was held recently in Dubai. The selection is in recognition of QNB s leading position and strong performance across all fundamental indicators. The Bank s consistent growth across all activities was also a major consideration for winning the award, QNB said in a statement released today.
Among the considerations for the award was QNB s ability to maintain the quality of its assets and credit portfolio. Led by an effective risk management framework, the Bank was able to maintain its non-performing loans ratio at 0.9% of the loan book by the end of December 2010, one of the lowest ratios in the region.
The Euromoney Awards for Excellence are among the most prestigious global awards for banking excellence. In addition to certified performance criteria, the judges utilize independent data available from BankScope, Bloomberg, Capital Intelligence, and Dealogic while choosing winners each year. The award is designed to review a wide range of qualitative and quantitative standards such as business volume, innovation, leadership, credit ratings, quality of assets and earnings, efficiency ratios and key performance indicators.
The Best Bank Award is given only to financial institutions having both commercial and retail banking capabilities, with the shortlist for the 2011 awards being judged on specific achievements between 1st April 2010 and 31st March 2011. The Best Bank Award, which stands as an industry recognition of QNB's achievements in different banking services, also addressed capabilities of QNB Capital, the investment banking arm of QNB, particularly how investment banking and advisory services complement QNB s overall reputation as the leading bank in Qatar. (QNA)