QNB has launched a new government contract financing product as the newest addition to its distinguished SME product line.
The government contract financing product is available to all new and existing SME customers, and will offer them partial financing on government and semi-government contracts up to QR10mn based on a case-by-case basis, in a flexible way that satisfies clients’ needs and matches project requirements, QNB said.
The new product is another valuable addition to QNB’s outstanding SME product line, aimed at assisting this important sector and promoting its advancement and growth as a true driver of the Qatari economy and its development, it said.
As the largest financial institution in Qatar, QNB has always designed innovative and state-of-the-art solutions to support SMEs and their development in the country. The bank introduced bespoke products that meet and exceed the growing demands of SME customers, while giving them enhanced finance facilities that aligned and work in collaboration with the bank’s partners from both the private sector and the government.
With a dedicated team to help and support SME customers, QNB offers a fast turnaround for clients applying for facilities, it said.
The group also exerts great efforts to always introduce new and innovative products, services, and solutions to nurture the growth of this important sector.
Among QNB’s notable efforts in this field is its support of the first SME online portal (www.businesspulse.qa) in partnership with Qatar Development Bank and Thomson Reuters.
This will further strengthen the ‘One Stop Shop’ service concept being promoted across a diverse range of economic sectors. QNB is also the main supporter of QDB’s Al-Dhameen SME programme.
The bank also opened its newest SME Centre in ‘Al Shoumoukh Towers’ as part of its steadfast commitment to supporting SMEs and as a distinguished addition to its corporate branches strategically placed across the country. The new SME centre further increased QNB’s capacity to support all current and future business owners who are seeking access to finance in order to expand or start a business.
QNB Group’s presence through its subsidiaries and associate companies extends to some 27 countries across three continents providing a comprehensive range of advanced products and services.
The total number of employees is more than 15,200 operating through more than 635 locations, with an ATM network of more than 1,390 machines.
QNB receives regulators’ nod to buy Turkey’s Finansbank
QNB has received the approval of the Qatar Central Bank and Turkey’s Banking Regulation and Supervision Agency to acquire Turkey’s Finansbank, the Gulf Arab region’s largest lender said yesterday.
In December, QNB said it had agreed to buy Finansbank from National Bank of Greece for €2.7bn ($3.08bn).
The share transfer to QNB will take place once remaining regulatory approvals were received, it said in the statement. QNB will make a further public announcement once that process had been completed, it added.
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