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Tribune News network
Qatar National Bank (QNB) Group recently received the “Best Trade Finance Bank in Qatar” award by Global Trade Review as part of its GTR Leaders in Trade 2019 awards programme.
QNB received the award based on the efficiency of its efforts during 2018 to enhance the banking experience of its corporate customers by launching a range of digital products and innovative services and expanding its international network in line with its goal to become a leading bank in the Middle East, Africa, and Southeast Asia by 2020, the bank said in a statement on Saturday.
QNB’s digital expansion included Trade Portal rollout in various different countries, leading to the generation of new businesses from across QNB’s international network and increasing the number of clients using the tool by 27% in 2018.
The bank’s other expansion efforts during the year included expanding its partnership with Multi-lateral Development Banks (MDBs) to support and finance Qatar’s exporters in steel and petrochemical sectors, establishing partnerships with several Asian banks to facilitate bonding requirements of their clients in Qatar and across the region.
The bulk of QNB’s extensive syndication work in 2018 has been in the Middle East, Europe and Asia, where the bank has provided number of large project finance transactions in the renewable energy sector.
QNB also remained very active in Qatar, where contractor financing has been a particular focus area.
Global Trade Review is a leading news source, publisher and event organiser for the global trade, commodity, export, and supply chain finance industries, with offices in London, Hong Kong and Singapore.
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