New Qatari bank in Lebanon

QNB receives approval to operate its first branch in Beirut

July 13, 2011- Qatar National Bank Group (QNB) has received approval from the Central Bank to open a full service branch in the country.

QNB’s branch in Lebanon will provide a full range of banking services and products to individuals, corporate entities and the government, the bank said in a statement. The services include retail banking services such as fixed deposits and current accounts, as well as corporate banking and advisory services including corporate, project and trade finance.

QNB Group covers 23 countries from Europe to Asia and Africa. It is also present in Syria, Jordan, and occupied Palestine.

QNB group’s total assets amounted to $72 billion at end-June 2011. The group recorded a net profit of $960 million during the first six months of the year, up by 30 percent compared to the same period last year.