QNB Group holds its Ordinary & Extraordinary General Assembly Meetings

Posted on : Sun, 31 Jan 2016

Doha, 31st January 2016- QNB Group, a Leading Financial Institution in the Middle East and Africa, held its Ordinary and Extraordinary General Assembly meetings, during which the Group's Financial Results for the year ended 31st December 2015 were approved.

The General Assembly also ratified all remaining items on its Agenda of both the Ordinary and Extraordinary General Assemblies, including the proposal by The Board of Directors to distribute a cash dividend of 35% of the nominal share value (QAR3.5 per share) and a bonus shares of 20% of the share capital (Two shares for every ten shares). The meeting also approved the appointment of Ernst &Young as External Auditors for the year 2016.

During the meeting, H.E. Ali Shareef Al Emadi, The Chairman of QNB Group's Board of Directors, presented both an overview of the Bank's activities and financial results for 2015.

H.E. The Chairman stated that QNB Group’s success in maintaining momentum across all its activities was reflected in the strong 2015 financial results. Driven by the dual considerations of on-going domestic and international expansion along with the continuing adoption of a prudent approach to risk management, QNB had re-affirmed its status as the leading financial institution in the Middle East and Africa Region.

H.E. The Chairman also provided an overview of the Bank’s business plans for the year of 2016. Retaining its leading position through diversifying income sources and expanding the range of activities across the QNB Group was of primary focus. The ability to meet shareholders’ expectations remained a core consideration for 2016.

The strong and robust nature of QNB Group’s performance in 2015 was reflected in the delivery of record financial results. Net Profit rose to QR11.3 billion, up by 8% compared to 2014 and Total Assets increased by 11% from December 2014 to reach QAR539 billion.

Based on the Group’s continuous strong financial performance and its expanding international presence, QNB is currently ranked as the most valuable bank brand in The Middle East and Africa, with a current world ranking of 79 in 2015 and a brand valuation of $2.6 billion according to Brand Finance Magazine.

QNB Group’s presence through its subsidiaries and associate companies extends to more than 27 countries across three continents providing a comprehensive range of advanced products and services. The total number of employees is more than 15,200 operating through more than 635 locations, with an ATM network of more than 1,390 machines.