VIDEO: What Qatar crisis means for Middle East’s biggest bank

July 13, 2017 4:34 pm

Is Qatar National Bank (QNB), the country’s biggest lender, feeling the pressure of the diplomatic crisis with its GCC neighbors?

Not according to CEO Ali Al Kuwari who in only his second TV interview spoke to Bloomberg’s Yousef Gamal El-Din about his bank’s growth strategy.

“The plan is for 6-8 per cent growth slated for end 2017 and we have not seen any indications that this would change,” Kuwari said.

“QNB is a well diversified institution with businesses in 31 countries, helping to overcome any crisis that comes our way.”

Read: Qatar crisis and what does it ultimately mean to the region’s economy

Kuwari said the bank has 2020 targets to be the leading bank in MENA and South East Asia, using non-organic growth such as acquisition opportunities if they avail themselves, and leveraging the existing network with organic growth in Oman, Kuwait, India and China, where it plans to have full service branches.

The GCC represents less than 5 per cent of our balance sheet and as such a disruption there will have little impact on our operations,” Kuwari added

Read: Qatar crisis derails GCC business


AMEinfo Staff
By AMEinfo Staff
AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.