Doha, 30 October 2011 – Qatar National Bank (QNB) Group, the leading financial institution in Qatar, announced the inauguration of its first branch in Juba, the largest city and the Capital of the Republic of South Sudan. The country which came into existence in July 2011, is the newest independent nation in the world.
QNB Group obtained the necessary license and approval form the Central Bank of South Sudan to commence business from its first branch in the capital, Juba.
QNB is the first GCC and foreign Bank to open a branch in Juba, after its official independence.
The Branch will offer a full range of banking services and products to corporate entities, and government, such as advisory services including corporate, project and trade finance. In addition, it will provide various services for individuals, including fixed deposits and current accounts and wealth management.
QNB's new branch will contribute to the development of the Economic sector of the Country focusing on the business and banking relationship between South Sudan and the international banking and Business communities.
QNB's corporate finance, asset management and investment banking services are accompanied by advanced advisory capabilities and a long track record of success in the Middle East and North Africa (MENA) region, where the Bank has advised and participated in numerous high profile transactions. The Bank has extensive experience in research, economics and analytics in the region.
Since newly independent, Juba has become an even more important city. South Sudan holds strong economic potential and is expected to develop rapidly. Key factors among these areas are infrastructure development projects and the overall elevation of GDP per capita through the promotion of international trade and commerce by the government.
QNB’s long term expansion plans in the region involves providing corporate banking and project financing facilities to leading organizations and governments.
It is worth mentioning that QNB is one of the highest rated banks in the Middle East and North Africa Region based on leading credit rating agencies including Standard & Poor's, Moody's, Fitch, and Capital Intelligence. The Bank has also been the recipient of many awards from leading international specialized financial publications for its innovative products, services and remarkable performance.