Banking
QNB Most Valuable Banking Brand in Middle East, Africa
By Dipo Olowookere
Largest financial institution in the Middle East and Africa, QNB Group, was recognized once again as the most valuable banking brand in the region with brand value worth $4.2 billion, according to The Banker’s 2018 Brand Finance Global 500 report published in its February edition.
QNB’s brand value has grown to $4.2 billion compared to $3.8 billion in 2017, an 11 percent year-on-year increase, while the Group’s Brand Strength Index (BSI) has increased from 76.4 out of 100 to 78.4 out of 100, driven by its constant strong financial performance and growing international expansion.
QNB also marked a new and significant milestone in support of its vision to become a leading bank in the Middle East, Africa, and Southeast Asia by 2020, ranking second most valuable banking brand in Southeast Asia (SEA) ahead of major banks in Malaysia, Indonesia, Thailand, Philippines, and Singapore.
The Group also maintained its AA+ brand strength rating, making it the strongest banking brand in the region and could rank higher in the future as it continues to build its customer base and reinforce its brand. QNB is also the only Qatari brand to be among the top 100 banking brands in the world.
The current increase in value means that the Group is now ranked 425 across all global brands, up from 433 last year.
This recognition reflects QNB’s strong and consistent financial performance and growth rates, along with its international presence, which spans many of the world’s leading financial centres, including London, Paris, Geneva, Mumbai and Shanghai.
In addition to its brand engagement, the Group delivered a solid set at the year-end of 2017 with a net profit of QAR13.1 billion ($3.6 billion), up by 6 percent compared to the previous year driven by its asset growth by 13 percent from December 2016 to reach QAR811 billion ($223 billion), the highest ever achieved by the Group.
QNB Group also increased customer deposits by 16 percent to reach QAR586 billion ($161 billion) from December 2016.
General Manager of QNB Group Communications, Mr Yousef Darwish, said, “Being named as the most valuable bank in the Middle East and Africa region in 2018 and ranking second most valuable banking brand in SEA are a true testament to our vision, strategy, execution and strong results.”
“This new achievement also illustrates how far we have progressed in our ambition to be a leading bank in the Middle East, Africa and Southeast Asia (MEASEA) by 2020,” he added.
“The QNB brand has improved as a national modern icon of banking excellence that reflects the bank’s long-standing legacy associated with innovation.
“It also reflects our commitment to offer innovative banking products and services that exceed customer expectations and provide a unique banking experience that has made us the first banking choice,” Mr Al Darwish concluded.
For his part, David Haigh, CEO of Brand Finance, commented that, “Amidst trying times for the reputation of the banking industry as a whole, QNB manages not only to attract customers in new markets, such as South East Asia, but also to solidify its image among the existing customer base.”
Brand Finance, the world’s leading independent branded business valuation and strategy consultancy, is the company behind the Brand Finance Banking 500, a league table of the world’s biggest banks ranked by their brand value, assesses the dollar value of the reputation, image and intellectual property of the brand, which is published every year in collaboration with The Banker magazine.
The Banker has been providing global financial intelligence since 1926 is the world’s longest running international banking title and the leading monthly title of the Financial Times Group and remain a key source of data and analysis for the industry.
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 28,200 operating through more than 1,230 locations, with an ATM network of more than 4,300 machines.
By Aduragbemi Omiyale
A collaboration to enable fast money transfers into Nigeria has been entered into between Flutterwave and Xoom, PayPal’s international digital money transfer service.
The partnership allows Xoom transfers to be converted by Flutterwave and settled locally in Naira, enabling quick transfers directly into recipients’ bank accounts at Access Bank, UBA, Zenith Bank, First Bank, GTBank, and additional participating banks across Nigeria.
The deal also enables Xoom’s global network with Flutterwave’s local payout infrastructure, allowing users globally to send funds directly into Nigerian bank accounts with improved speed and efficiency.
Nigeria is the leading remittance recipient in Sub-Saharan Africa, receiving over $20 billion in personal remittances in 2024. Despite this volume, receiving international payments has historically remained complex due to FX constraints and settlement delays. This collaboration helps address those challenges in a market of more than 232 million people, where the ICT sector is projected to contribute 21 per cent of GDP by 2027.
By combining Xoom’s expansive reach with Flutterwave’s local compliance and banking partnerships, the two companies are providing a more accessible financial corridor for the continent.
Xoom, a PayPal service, is a fast and secure international digital money transfer service that enables consumers to send money, pay bills, and reload phones for friends and family in approximately 160 markets globally.
As part of PayPal’s global payments ecosystem, Xoom leverages advanced fraud protection, compliance capabilities, and a trusted global network to help millions of customers move money quickly and securely across borders.
“We’re excited to have been chosen by Xoom for their Nigeria expansion. Millions of Nigerians rely on money from abroad to support everyday needs, whether it’s families receiving help from loved ones, freelancers getting paid for their work, or individuals earning income from the global economy. This helps make it easy and more reliable for people in Nigeria to receive funds and stay connected to opportunities beyond borders,” the chief executive of Flutterwave, Mr Olugbenga GB Agboola, stated.
By Aduragbemi Omiyale
An initiative known as Nigeria Lightning Rounds, designed to expand funding opportunities for Nigerian startups and small businesses by connecting founders with local and international investors, has been launched by ProvidusUnity Bank, in partnership with US-based global venture firm and accelerator, gener8tor.
Scheduled to be held on July 15, 2026, Nigeria Lightning Rounds will feature carefully selected startups engaging with targeted investors who have expressed interest in supporting Nigerian innovation.
Participating founders will have the opportunity to pitch their businesses through focused 15-minute virtual sessions facilitated by gener8tor and ProvidusUnity Bank’s networks.
The program will focus on high-growth sectors including fintech, healthtech, manufacturing, sustainability, and AI, but welcomes SMEs from all industries, with intending participants urged to apply via https://www.gener8tor.com/lightning-rounds/nigeria.
“We recognise that access to capital remains one of the biggest challenges facing entrepreneurs in Nigeria. Through our partnership with gener8tor, we are creating a platform that connects promising Nigerian founders with investors who can provide the support required to scale their businesses,” the Head of Business Development at ProvidusUnity Bank, Mr Ernest Elue, stated.
“The partnership reinforces ProvidusUnity Bank’s commitment to strengthening Nigeria’s entrepreneurial ecosystem by supporting innovation, enabling access to opportunities, and creating pathways for businesses with high-growth potential,” he added.
Also commenting, the Director of Lightning Rounds at gener8tor, Ms Elizabeth Larios, said, “gener8tor is thrilled to partner with ProvidusUnity Bank to extend the Lightning Rounds model into Nigeria.
“This collaboration reflects our commitment to building equitable ecosystems and driving capital to the most promising and underrepresented entrepreneurs.”
Lightning Rounds are a signature initiative of gener8tor’s investment platform, which has facilitated thousands of investor-startup meetings globally. The format is optimised to eliminate friction, reduce bias in early-stage fundraising, and help founders secure capital from investors aligned with their mission and stage. gener8tor’s previous Lightning Rounds for Nigerian Founders in 2025 featured 18 participating Investors and led to 50 investment meetings facilitated.
By Modupe Gbadeyanka
The verification of the depositors of the 46 microfinance banks, whose operating licenses were revoked by the Central Bank of Nigeria (CBN) over a week ago, has commenced.
The exercise, aimed at refunding those whose funds were trapped in the small lenders, is being conducted by the Nigeria Deposit Insurance Corporation (NDIC).
In a statement on Thursday, the agency said its staff members have been positioned at the offices of the affected banks across the country to attend to depositors.
It was disclosed that depositors of the defunct banks, who had their Bank Verification Numbers (BVNs) linked to their accounts in the failed banks, will be paid through their alternative accounts in existing banks.
However, depositors whose BVNs were not linked to their accounts in the failed banks have been encouraged to visit the affected banks’ offices with proof of account ownership, a passport photograph, verifiable means of identification (Driver’s Licence, Permanent Voter’s Card, International Passport or National ID Card) and BVN.
NDIC also stated that depositors can alternatively file their claims online through its website: www.ndic.gov.ng, to complete the Pre-Verification Claims Form by clicking on the Search Bar, and typing Pre-Verification Claims Form; opening the Form and filling in their details. They can also do so by clicking the link: https://ndic.gov.ng/ndic-pre-verification-claims-form/ or by visiting any of the NDIC offices closest to them to file their claims.
For further enquiries, the corporation can be reached on any of the following lines: 09037273810, 09038197064, 08104220807, 09064657140.
