Qatar National Bank Group (QNB) has received approval from the Central Bank of Lebanon to open a full service branch in the country.
QNB said that its Lebanon branch will provide a full range of banking services and products to individuals, corporate entities and government. These include retail banking services such as fixed deposits and current accounts, as well as a broad range of corporate banking and advisory services including corporate, project and trade finance.
Ali Shareef Al-Emadi, chief executive of QNB Group, said: “We are very pleased to receive this license which supports the group’s strategic growth plans and more importantly gives QNB the opportunity to be a key partner that supports the cross-border economic growth of individuals, corporates and government entities in both Lebanon and Qatar.
“The results achieved have been positive with revenues attributable to the group’s international activities growing significantly in recent years. QNB has succeeded in strengthening its global footprint from Asia to Europe and particularly in the MENA region. The success of the bank’s international growth plans is recognition of a prudent risk management strategy and a conservative approach to diversifying group activities in Qatar and internationally.”