Qatar's QNB Plans Expansion After Absorbing Shock of Standoff - Bloomberg

Qatar's QNB Plans Expansion After Absorbing Shock of Standoff - Bloomberg:

"Qatar National Bank QPSC has absorbed the shock of last year’s Saudi Arabia-led isolation of the gas-rich state and plans to push ahead with its expansion strategy. The Middle East’s biggest bank by assets expects that profit will increase 5 percent to 7 percent this year, Chief Executive Officer Ali al-Kuwari said in an interview. QNB will continue to diversify earnings by targeting Southeast Asia, while focusing on its main markets in Qatar, Egypt and Turkey, he said. QNB said Tuesday that annual net income rose 6 percent, meeting analysts’ estimates, as the lender cut impairment charges. The profit growth was at the slowest pace in at least 10 years with operating income remaining little changed from a year earlier."



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