QNB receives strong interest for its 7-year EMTN bond

QNB Group has received strong interests from investors globally for its $1bn seven-year bond issue under its Euro Medium Term Note (EMTN) programme.

The bonds have been listed on the London Stock Exchange. The issuance was part of QNB Group’s ongoing strategy to ensure diversification of funding in terms of type, tenor and geography.

The Reg S issue attracted strong interest from investors globally and was arranged by Barclays Bank, Credit Agricole CIB, Mizuho, QNB Capital and Standard Chartered Bank (together joint lead managers).

"This success confirms the trust of international investors in QNB Group’s strategy and the strength of its financial position," the bank said in its communique to the Qatar Stock Exchange.

QNB recently reported a 4% year-on-year increase in net profit to QR14.4bn for the year ended 2019. Total assets had risen 10% to QR945bn at the end of December 31, 2019, one of the best set of results in the QNB's history.

Solid growth in loans and advances by 10% to QR679bn contributed to the growth in total assets, which was mainly funded by strong customer deposits generation which expanded 10% to QR684bn.