Qatar National Bank (QNB Group), the largest financial institution in the Middle East and Africa, has officially opened its branch in Hong Kong, one of the world’s prominent global financial hubs.
As a newcomer to the Asian market, QNB seeks to position itself as a reputable foreign bank to customers with trade and investment flows between Hong Kong, the Middle East, Africa, and Mainland China.
The Hong Kong branch of QNB aims to facilitate cross-border business with a range of corporate banking products and services, treasury and investments, foreign exchange solutions, syndication strategies, and project financing.
“We are pleased to announce the official opening of our first branch in Hong Kong, one of the most attractive markets in the world. As part of our group’s strategy to expand into strategically-located markets with excellent infrastructure and a business-friendly environment, we are planning to continue diversifying our sources of revenue and profit, particularly in the Middle East, Africa, and South East Asia (MEASEA) markets.”
Hong Kong is the gateway for QNB’s clients to mainland China and wider Asia. It is a major trade hub accounting for nearly $1.077 trillion in imports and exports. The branch will work closely with the group’s global network, particularly the Singapore branch and Shanghai representative office.
QNB will advise its clients in China on their outbound growth through Hong Kong as a base and will link with Singapore to cover the South East Asia region. In its keenness to become a leading bank in the MEASEA region, QNB Group’s presence in Hong Kong reflects its commitment to developing a successful market expansion strategy, through in-depth insight and understanding.
QNB already has a presence in Asia, through branches in Singapore and India, a subsidiary in Indonesia, and representative offices in China, Vietnam, and Myanmar. The Group’s presence through its subsidiaries and associate companies extends to 31 countries across three continents, providing a comprehensive range of advanced products and services.