Islamic Banking

Qatar National Bank gets Ansbacher

Stephen Harris, 1 July 2004

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Qatar National Bank (QNB) has agreed to buy UK wealth manager Ansbacher Group for around £135 million from FirstRand of South African. The a...

Qatar National Bank (QNB) has agreed to buy UK wealth manager Ansbacher Group for around £135 million from FirstRand of South African. The agreed price is at a premium of around £15m to book assets of Ansbacher which has operations in the UK, Cayman Islands, Bahamas, Switzerland and the Channel Islands.

Ansbacher’s established franchise in the HNW market will be leveraged by ONB on behalf of its large and growing HNW client base.

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