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 Modupe Gbadeyanka
To strengthen Europe-Africa trade ties, Access Bank has opened a new branch in Malta. It will focus on international trade finance, employing approximately 30 people in its initial phase, with plans for controlled expansion over time.
It was learned that this Maltese branch was established by Access Bank UK Limited, the subsidiary of Access Bank Plc, which is also the subsidiary of Access Holdings Plc, which is listed on the Nigerian Exchange (NGX) Limited.
Access Bank Malta Limited commenced operations after obtaining a banking licence from the European Central Bank (ECB) and the Malta Financial Services Authority (MFSA).
Access Bank said the licence marks a transformative milestone in bolstering Europe-Africa trade flows.
Malta, a renowned international financial centre, and a gateway between the two continents, is strategically positioned to play a pivotal role in advancing commerce and fostering economic partnerships.
This strategic expansion into Malta enables The Access Bank UK Limited to leverage growing trade opportunities between Europe and Africa.
It underscores the organisation’s commitment to driving global trade, financial integration, and supporting businesses across these regions.
“By establishing operations in Malta, we will gain a foothold in a market that bridges European and North African economies, moving us one step closer to our goal of becoming Africa’s Gateway to the World.
“It further enhances our bank’s capacity to support clients with innovative solutions tailored to cross-border trade and investment opportunities,” the chief executive of Access Bank, Mr Roosevelt Ogbonna, stated.
“Europe has emerged as Africa’s leading trading partner, driven by initiatives such as the Economic Partnership Agreements between the EU and African regions and the African Continental Free Trade Area (AfCFTA).
“With Europe-Africa economic relations entering a new phase, The Access Bank Malta Limited is ideally positioned to deepen trade and meet the financing and banking needs of our clients in these expanding markets,” the chief executive of Access Bank UK, Mr Jamie Simmonds, commented.
Also speaking, the chief executive of Access Bank Malta, Renald Theuma, said, “Malta is uniquely positioned as a bridge between Europe and Africa, making it an ideal location for our subsidiary. This move allows The Access Bank Malta Limited to engage more closely with customers in Europe and deliver tailored financial solutions that drive growth and connectivity across both continents.”
By Adedapo Adesanya
The International Finance Corporation (IFC) and Goldman Sachs have announced a new partnership with African banks, including Nigeria’s Zenith Bank and Stanbic IBTC Nigeria to support the Goldman Sachs 10,000 Women initiative, a joint programme launched in 2008 to provide access to capital and training for women entrepreneurs globally.
The two Nigerian banks are part of nine financial institutions from across Africa which have agreed to join the 10,000 Women initiative committing to leverage the business education and skills tools the programme provides to create more opportunities for women entrepreneurs across the continent by providing access to business education.
Others banks include Stanbic Bank Kenya, Ecobank Kenya, Ecobank Cote d’Ivoire, Equity Bank Group, Banco Millenium Atlantico – Angola, Baobab Group, and Orange Bank.
Speaking on this, Ms Charlotte Keenan, Managing Director at Goldman Sachs said – “10,000 Women has had a powerful impact to date, but we know that there are more women to reach and more potential to be realized.
“We are delighted to partner with IFC to supercharge the growth of women-owned businesses across Africa, and mainstream lending to female business leaders. We remain committed to supporting entrepreneurs with the access to education and capital that they need to scale.”
Since 2008, the 10,000 Women initiative has provided access to capital and business training to more than 200,000 women in 150 countries.
“This expanded initiative marks a significant step forward in creating equitable economic opportunities for women in Africa, enabling them to build stronger, more resilient businesses and to realize their entrepreneurial goals,” said Ms Nathalie Kouassi Akon, IFC’s Global Director for Gender and Economic Inclusion.
Goldman Sachs’ 10,000 Women initiative complements the Women Entrepreneurs Opportunity Facility (WEOF), launched in 2014 by Goldman Sachs and IFC as the first-of-its-kind global facility dedicated to expanding access to capital for women entrepreneurs in emerging markets.
By Aduragbemi Omiyale
In recognition of its unwavering commitment to fostering access to financing for Nigerian micro, small and medium enterprises (MSMEs), Development Bank of Nigeria Plc has been rewarded with the Financial Inclusion Leadership Award at the Champions of Inclusion Nigeria Financial Inclusion Awards.
This was at the 2024 International Financial Inclusion Conference (IFIC) organised by the Central Bank of Nigeria (CBN) in collaboration with the World Bank and other stakeholders.
The chief executive of the lender, Mr Tony Okpanachi, said the recognition affirms the company’s efforts in expanding access to financial services for MSMEs in Nigeria.
“We are honoured to receive the Financial Inclusion Leadership Award, which is a testament to our bank’s commitment to expanding access to financial services for all Nigerians. This award recognises our efforts to bridge the financial inclusion gap, particularly for a priority sector like the MSMEs.
“Additionally, this award is a validation of our strategic focus on driving financial inclusion for small businesses, and we are proud to be at the forefront of this initiative that drives that. We will continue to innovate and expand our financial inclusion programmes, ensuring that more Nigerian small and startup businesses have access to services,” he stated.
On his part, the Chief Operating Officer of DBN, Mr Bonaventure Okhaimo, said the accolade demonstrates the firm’s dedication to driving financial inclusion and economic growth in Nigeria.
“This award acknowledges our Bank’s innovative approach to widening opportunities for MSMEs in Nigeria to grow and scale their businesses,” he said.
“This award will motivate us to continue pushing the boundaries of financial inclusion, exploring more innovative solutions and partnerships to expand our reach and impact.
“We are committed to ensuring that more small businesses and startup enterprises in Nigeria have access to financial services, this award will further inspire us to accelerate our efforts in this regard,” he stated.
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