Mubasher: Qatar National Bank (QNB) on Sunday announced that the bank was recognized for the second time as the most valuable banking brand in the Middle East and Africa (MEA) region.

Brand Finance Global, the world’s leading brand valuation consultancy,  rose QNB’s value to $4.2 billion, according to The Banker’s 2018 Brand Finance Global 500 report in its February edition

This recognition reflects the lender’s strong performance, growth rates and international presence. 

The bank’s brand value surged 11% to $4.2 billion in 2017 from $3.8 billion a year earlier.

Moreover, the QNB’s brand strength index (BSI) increased to 78.4 out of 100 in 2017, up from 76.4 the prior year due to its constant strong financial performance and growing international expansion, the report highlighted.

“Being named as the most valuable bank in the Middle East and Africa region in 2018 and ranking second most valuable banking brand in SEA are a true testament to our vision, strategy, execution and strong results,” said Yousef Darwish, general manager of QNB.

QNB’s net profits levelled up 6% year-on-year to QAR 13.1 billion ($3.6 billion) in 2017, while the group’s assets grew 13% year-on-year to QAR 811 billion ($223 billion).