QNB sees 40pc net profit from foreign operations

DOHA: QNB Group has projected a 40 percent of its net profit coming from the bank’s international operations in 2013. An estimated 21 percent of its 2012 full year net profit derived from foreign operations,  H E Yousuf Hussein Kamal, Chairman of the bank said.

The QNB is aggressive on its international expansion plans. There is a strong competition in the financial sector. Qatari market is too mall and we need to expand our operations beyond the borders, he said while replying to the shareholders’ questions at the bank’s ordinary general assembly yesterday.

“At least 21 percent of the group’s 2012 net profit came from international operations. We are targeting a total of 40 percent of the bank’s net profit from our international operations this year. The aim is to transform QNB Group into a Middle East and Africa icon,” he added. 

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