Qatar National Bank joins Vietnam market
Qatar National Bank joins Vietnam market
Qatar National Bank recently opened its representative office in Ho Chi Minh City, with the desire to promote development of trade between Qatar and Vietnam.
The representative office of the Qatar National Bank (QNB) will take on the role of expanding intermediary services in the areas of investment and trade with Middle East companies intending to do business in Vietnam. It will also keep in touch with Vietnamese companies that are planning expansion in the Middle East market.
QNB was established in 1964 as the first national commercial bank in Qatar, with 50 percent of capital contributed by the Qatar National Investment Fund and the second half from the private sector.
With a market share of approximately 45% in the financial and banking sector, QNB is considered the largest bank in Qatar and also the leading financial institution in the Middle East and North Africa, with presence in 26 countries.
Last year the bank’s net profit reached $2.9 billion, up 10.3% over 2013. Total assets also increased by 9.7% compared to December 2013, to $133.6 billion.
Kasikorn Bank, specializing in providing services to small and medium enterprises in Thailand, just opened two representative offices in Ho Chi Minh City and Hanoi.
