Major Middle East and Africa financial institution QNB Group officially opens its first branch in Hong Kong as part of broader plans for expansion in the region.
Through the new branch, QNB Group will look to support trade and investment flows between Hong Kong, the Middle East, Africa and mainland China, according to a statement.
«We are pleased to announce the official opening of our first branch in Hong Kong, one of the most attractive markets in the world,» said QNB Group chief executive Abdulla Mubarak Al-Khalifa.
China Plans
The Hong Kong unit will advise QNB client’s in China on their outbound growth through Hong Kong with a range of offerings across corporate banking products and services, treasury and investments, foreign exchange solutions, syndication strategies, and project financing.
It will also work closely with QNB’s global network, especially with the Singapore branch and Shanghai representative office.
MEASEA Expansion
According to QNB, it aims to be a leading bank in the Middle East, Africa and Southeast Asia.
«As part of our Group’s strategy to expand into strategically located markets with excellent infrastructure and a business friendly environment, we are planning to continue diversifying our sources of revenue and profit, particularly in the MEASEA (Middle East, Africa and South Asia) markets,» Al-Khalifa added.
In Asia, QNB has existing branches in Singapore and India, a subsidiary in Indonesia and representative offices in China, Vietnam and Myanmar. Globally, it has a presence in more than 31 countries with over 28,000 employees.
