Qatar’s QNB expands operations in Saudi Arabia

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Qatar National Bank (QNB) Group has opened its second branch in Saudi Arabia to boost its presence in the region.

The new office is located in the port city of Jeddah, where the lender will offer solutions for its retail and corporate clients in the western region of the Kingdom, according to a press release.

QNB’s Jeddah branch is expected to fulfill the financial needs of the growing customer base in the Saudi market. This comes as part of the Qatari lender’s regional expansion strategy which aims to endorse its position in the GCC banking market.

The bank made its debut in Saudi Arabia in 2017 when it opened a facility in the capital, Riyadh.

At the current time, the banking group operates in over 28 countries worldwide, with an ATM network exceeding 4,900 units.

It is worth noting that the Qatari lender is also listed on the Egyptian Exchange under the trading symbol QNBA and QNB Al Ahli name.