QNB remains most valuable bank in Middle East and Africa, up 16% to US$7.1 billion
The largest financial institution in the Middle East and Africa, QNB has consolidated its position as the most valuable banking brand in the region, observing a healthy brand value growth of 16% to reach US$7.1 billion, according to the latest report by Brand Finance published in The Banker magazine. QNB also rose three spots to 45th place overall, now firmly situated amongst the 50 most valuable banking brands in the world.
Every year, leading brand valuation consultancy Brand Finance puts 5,000 of the biggest brands to the test, and publishes nearly 100 reports, ranking brands across all sectors and countries. The world’s top 500 most valuable and strongest banking brands are included in the annual Brand Finance Banking 500 ranking.
Despite the challenges posed by the pandemic, QNB continued to provide a high level of service for its customers alongside investing heavily into the development of the brand’s digital offering. This focus has allowed QNB to continue delivering successful campaigns, products, and services and build a strong portfolio which will prime the brand for future growth opportunities and international exposure.
David Haigh, Chairman & CEO of Brand Finance, commented: “QNB’s growth outpaced the average of the top 50 banking brands, reflecting the hard work put behind the brand and business over the last few years. The brand has acted as a unifying force across its operations, which have benefitted from the significant investment in digital services for retail and corporate clients, and has helped consolidate QNB’s position in the top 50 of the Brand Finance Banking 500 ranking.
Across the banking sector, the key drivers of a strong brand are strong stakeholder perceptions of its range of products and services, the quality of its digital platforms, strong customer service and overall accessibility to customers. QNB has excelled on these KPIs over the past year, which is evidenced by its growth in both brand value and strength over the last 12 months.”