QNB Group Ordinary General Assembly Approves Agenda

Posted on : Sun, 02 Feb 2014

Doha, 2nd February 2014-QNB Group announced at its Ordinary General Assembly held on 2nd February 2014, that QNB Group's Financial Results for the year ended 31st December 2013 were approved.

The General Assembly also ratified all remaining items on its Agenda including the proposal by The Board of Directors to distribute a cash dividend of 70% of the nominal share value (representing QR7.0 per share). The meeting also approved the appointment of Ernst & Young as External Auditors for the year 2014.

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 2013, 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 2013 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 the World’s Strongest Bank 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 2014. 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 2014.

The strong and robust nature of QNB Group’s performance in 2013 was reflected in the delivery of record financial results. Net Profit rose to QR9.5 billion, an increase of 13.7% over 2012 and Total Assets increased by 20.9 % to reach QR443 billion.

Based on the Group’s continuous strong performance and the expanding international presence, the Bank is currently ranked as the most valuable brand in The MENA Region.