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Qatar's QNB Logs Strong Rise In Assets; Bank Profits Gain In 2013

Tom Burroughes

20 January 2014

Qatar-based QNB, or Qatar National Bank, has reported that its asset and wealth management division has seen a rise in client money, outpacing the firm’s overall asset growth in 2013, according to the Gulf Times publication.

A statement from the bank said net profit for last year rose 13.7 per cent year-on-year to QR9.5 billion ($2.6 billion) in 2013.

The statement, issued by the bank last week, did not refer to the wealth management section; this publication is in contact with the bank seeking to confirm details.

QNB’s asset and wealth management division witnessed an 85 per cent growth in assets to QR41.86 billion and consumer banking by 22 per cent to QR17.09 billion as against total assets growth of 21 per cent.