QNB, which is present in 24 countries and aims to be a dominant player in other markets, is contemplating "sizeable" acquisitions to achieve scale as part of its comprehensive to become a Middle East and Africa (MEA) icon by 2017.
It is planning to roll out QNB First, a priority banking service where members need to maintain an average daily balance of QR350,000 or more (or equivalent in other currencies) or have a monthly salary of QR35,000 or more, in "select" countries.
Preparations are on in full swing for the launch of QNB First in the UK. France, Kuwait, Lebanon and Oman.
"The bank began implementing its strategy into 2017 that aims to transform QNB Group into a MEA icon," its chairman and Finance Minister HE Yousef Hussein Kamal told the ordinary general assembly where shareholders approved the 60% cash dividend and net profit of QR8.3bn in 2012.
The three pillars of the strategy are aimed at maintaining dominant position in the domestic market, developing and growing the ongoing high return on equity and "refocusing" international expansion.
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