QNB Group acquires a controlling stake in NSGB

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Egypt is the fourth largest economy in the Middle East and North Africa region and a market that is integral to QNB Group in achieving its goal to become a MENA Icon by 2017, Qatar News Agency reported. NSGB is the second largest private bank in Egypt with 160 branches across the country, and over 4,500 employees.

Qatar National Bank (QNB Group), established in 1964 as the country’s first Qatari-owned commercial bank, has an ownership structure split between the Qatar Investment Authority (50%) and the private sector (50%).

The Group has steadily grown to be among the largest banks in the MENA region and is by far the leading financial institution in the country with a market share exceeding 45% of banking sector assets.

Having witnessed accelerated expansion globally in the past few years, QNB Group presently operates in 24 countries around the world through its network, subsidiaries and associate companies. It employs about 8,800 staff from 400 branches and offices, and is supported by an ATM network that exceeds 800 machines.

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