QNB Group Ordinary General Assembly Approves Agenda

Posted on : Sun, 01 Feb 2015

Doha, 1st February 2015- QNB Group, one of the World’s Strongest Banks, announced that at its Ordinary General Assembly held on 1st February 2015, that QNB Group's Financial Results for the year ended 31st December 2014 were approved.

The General Assembly ratified all items on its Agenda including the proposal by The Board of Directors to distribute a cash dividend of 75% of the nominal share value (representing QR7.5 per share). The meeting also approved the appointment of Ernst & Young as External Auditors for the year 2015.

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 2014, and answered shareholders’ questions on a range of subjects posed.

H.E. The Chairman stated that QNB Group’s success in maintaining momentum across all its activities was reflected in the strong 2014 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 established its position as one of the World’s Strongest Banks and re-affirmed its status as the leading financial institution in The MENA Region.

H.E. The Chairman also provided an overview of the Bank’s business plans for 2015. Retaining its leading position through the continued diversification of income sources and expanding the range of product offerings’ across the QNB Group was of primary focus. The continued ability to meet shareholders’ expectations remained a core consideration for 2015.

The strong and robust nature of QNB Group’s performance in 2014 was reflected in the delivery of record financial results. Net Profit rose to QR10.5 billion, an increase of 10.3% over 2013 and Total Assets increased by 9.7% to reach QR486 billion.

QNB Group currently operates in more than 26 countries across 3 continents. The bank is currently ranked as the most valuable brand in the Middle East and Africa, with a current world ranking of 79 according to the Brand Finance Magazine. Global Finance Magazine also ranked QNB as one of the Top 50 Safest Banks in the World.