By: Eman Ghali 

Mubasher: Six Qatari banks have been ranked among the top 500 valuable lenders in terms of market capitalisation, according to the Banker’s Brand Finance Global 500 2019 report.

Qatar National Bank (QNB) retained its 61st ranking globally and was named the top lender in the Middle East by market capitalisation.

The Gulf nation’s five other lenders included Qatar Islamic Bank, Masraf Al Rayan, Commercial Bank of Qatar, Doha Bank and Qatar International Islamic Bank. 

QNB’s market capitalisation rose 19.1% to $5.04 billion in 2019, from $4.23 billion in the prior year.

The brand index of the Qatari lender continued to climb to 79 ranking out of 100, supported by its strong financial position, sustained performance and growing international expansion, according to QNB’s statement.

The value of QNB’s brand rose 9% regionally and kept its AA+ rating with a positive outlook.

Globally

Amazon was named the world’s most valuable brand with a value of $187.9 billion followed by US tech giants Apple and Google with market capitalisation of $153.6 billion and $142.7 billion, respectively.

In the banking industry, the Industrial and Commercial Bank of China (ICBC) topped the list with value of $79.823 billion, followed by China Construction Bank and the Agricultural Bank of China with $69.742 billion and $55.04 billion, respectively.

Translated by: Zeinab Adel