QNB Financial Services (QNBFS) impressed on multiple fronts over the past year, making it Euromoney’s best securities house for Qatar in 2024.

QNB Private was the first private bank established in Qatar, but its offering for clients, particularly high net-worth individuals, spans the Middle East. QNB is the largest bank in Qatar, with a 30% market share, and has a global network that covers 31 countries on three continents.

The Qatari bank is investing at home and abroad, growing its loan book and building strong operations in Egypt and Turkey.

Regional difficulties have tested QNB’s resilience, but the bank has managed to consolidate its position at home and maintain its international strength.

Bahrain Best Bank

In the most difficult circumstances, QNB's international strategy has paid dividends

Commercial International Bank wins region’s best bank award; winners reflect year of reform and easing bank liquidity; record year for Gulf debt capital markets sees HSBC retaining investment-banking title, while local and international banks do battle for regional and domestic awards.

As in much of the Gulf, banking conditions in Bahrain were difficult over the last year. Despite these challenges, Ahli United Bank did well.

Bahrain

Qatar National Bank’s stake in Ecobank will be a boost to the pan-African lender, after being plagued by governance issues since last year, while signalling a battle for ownership.

The Bahrain award is one of the easier ones in the region to decide upon; Ahli United is the leader on almost any metric. Its $579.4 million net profit for the 2013 financial year ($366.5 million after allowing for a one-off exceptional gain) was a record and a 25.7% improvement on the previous year, as well as being the biggest profit in the country’s banking industry. Total assets grew 9.3% to $32.65 billion; loans, 8.3%; customer deposits, 17.4%. NPLs are a healthy 2.4% and total provisions for those NPLs 149.4%, while the bank’s capital adequacy ratio now stands at 16.2%. Most of these metrics lead the industry.

Bank M&A in the Middle East has accelerated over the past year. Although regional events and global markets are already throwing up tests, the motivation for deals is still stronger than ever.

QNB became the Middle East’s biggest bank last year and is now stepping up acquisitions abroad. Can it follow Qatar’s corporate champions and transform into an emerging market-focused bank worthy of the state’s newfound financial power?

The world needs a bank with strong backing and a proper network in the frontier markets of Africa and the Arab world.