Qatar National Bank Opens Full Fledged Branch in Singapore

DOHA, Sept 11 () -- Qatar National Bank (QNB) announced that its Representative Office in Singapore has been upgraded into a full fledged branch effective from Sept 10. QNB, which obtained its license as a Representative Office in April, 2007, was the first Qatari bank to operate in Singapore.

QNB Singapore Branch holds a wholesale banking license and will provide a full range of banking services and products including fixed deposits, current accounts, corporate loans, project finance and trade finance. The expansion of QNB’s foreign activities in the last few years has been prompted by its growing international clientele ranging from corporate clients to high net worth individuals.

Concurrent growth in economic ties, development of foreign trade and a wave of globalization has led QNB to pursue more aggressive growth by acquiring shares in leading financial organisations and establishing representative offices and branches worldwide.