Middle East and Africa’s largest financial institution QNB Group has topped the ranking of the Forbes’s ‘Top 50 Banks in the Middle East’ list featuring the region’s banking giants that help drive the region’s economies.
QNB Group hit first place with sales of $13.5bn and profits totalling $3.3bn.
As of June 6 this year, the banks featured on Forbes Middle East’s list of the “Top 50 Banks in The Middle East” had a total value of $513.6bn and assets worth $2.5tn.
To construct the list revealed yesterday, Forbes gathered data from listed stock exchanges in the Arab world and ranked companies based on sales, profits, assets, and market value.
QNB was recently named the second most valuable company in the Middle East by Forbes in the list for the “2021 Forbes List of Top 100 Companies in the Arab World”.
Forbes Middle East extends the Forbes Brand of journalism across the Arab World. It sets the pace for pre-emptive business journalism, by uncovering trends and anticipating business opportunities; and publishes original lists that adhere to methodologies set by Forbes Media.
QNB Group’s presence through its subsidiaries and associate companies extends to more than 31 countries across three continents providing a comprehensive range of advanced products and services.
The total number of employees is more than 27,000 operating through 1,000 locations, with an ATM network of more than 4,400 machines.