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Qatar National Bank SWOT & PESTLE Analysis

ID : 52573253| Aug 2019| 15 pages

COMPANY PROFILE -Qatar National Bank (QNB Group)

Business Sector :Banking and Financial Services

Operating Geography :Global commercial bank with headquarters at Doha, Qatar

About Qatar National Bank (QNB Group) :

Being established as Qatar’s first commercial bank in the year 1964, Qatar National Bank (QNB Group), with various mergers and acquisitions had steadily grown to be the largest financial institution in the Middle-East Asia and Africa region and the biggest bank in Qatar. QNB group has successfully established its presence in over 31 countries worldwide as of 2019 with the help of its subsidiaries and associate companies. Being one of the highest rated regional banks, QNB provides its clients with a vast range of investment banking services through QNB Capital and world-class multi-market brokerage services through QNB Financial Service. The company successfully maintains a strong financial performance and is ranked as the most valuable bank of MEASEA region as of 2018 according to Brand Finance Magazine. QNB’s vision is “to become a leading MEASEA bank by 2020 and global bank by 2030.”

Qatar National Bank (QNB Group) Revenue :


Operating Income
QR 24.5 billion - FY ended December 31, 2018

Competitive Analysis of Qatar National Bank (QNB Group)

SWOT
PESTLE
The SWOT analysis of QNB Group is presented below:
Strengths
Weaknesses
1. Vast geographical coverage
2. Regional market leadership
3. Comprehensive products and services
4. Brand recognition with strong credit ratings
5. World-class technology infrastructure
6. Holistic innovation approach
1. Less diversity in workforce
2. Effect of Turkish economic crisis
Opportunities
Threats
1. Expanding economies and globalization
2. Uncovered attractive markets in Asia and Africa
3. Focus on delivering premium customer experience
1. Intense regional competition
2. Fluctuating exchange rate
3. Shortage of skills requirement
4. Impact of GCC blockade of Qatar
5. Growing risk from real estate downturn
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Detailed SWOT Analysis of Qatar National Bank (QNB Group)

 

Strength

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Weakness

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Opportunity

1. Expanding economies and globalization: Worldwide globalization has increased the average income level and spending capabilities of people of many countries. This was also reflected in QNB’s market for the last two decades which involved a growth of 14% of the total assets, 15% of the total loans written and 13% of the total customer deposits in last 5 years (2014-2018), according to December 2018 financial report. The report also shows an increase of 8% of the net profit in last 5 years (2014-2018). QNB was also successful in providing various innovative and improved products and services to its customers in addition of having a huge brand recognition/reputation. The population has been growing in the world and is expected to grow at a positive rate for the upcoming years, which is beneficial for QNB group, as there will be an increase in the number of potential customers that they can target in future. Economic growth also brought new and improved technology which comes up with numerous benefits suitable for many segments of the bank. With the help of technology, operations can be automated, thereby reducing the costs and also enables better data collection on customers and better customer service experience. QNB’s trend of continuous market expansion and holistic innovation approach has the ability to capitalize on global economic expansion and achieve its long-term vision of becoming a global bank by 2030.

2. Uncovered attractive markets in Asia and Africa: Even though QNB group holds the first rank and is the most valuable bank in Middle East and Africa region, out of 195 countries in the world, QNB has a reach over only 31 countries across three continents (Asia, Africa and Europe), out of which countries like Qatar, UAE, Syria, Palestine, Iraq, Jordan, Turkey, Tunisia, Libya, Indonesia and Togo has dense branch and office network and the rest of the countries have very few branches and offices, as per corporate presentation of the first quarter of financial year 2019. Hence the group’s primary focus should be on MEASEA market for further investments to fulfill its vision of becoming the leading bank of MEASEA market by 2020. Also 37% of QNB’s net profit of 2018 was delivered by international business, with an increase of 16 percentage points in past six years. Hence QNB’s efforts of international expansion with more diversified revenue streams have proven beneficial for the company. In 2017; QNB opened their first branch in Mumbai, India and, in 2018; it opened new branches in Oman and Kuwait with aim of capturing growing market and business opportunities. The company also aims to open a branch in Hong Kong, China in 2019. Focus can also be shifted in development of various products and services that have low market share, which can lead to further market expansion and new customer attraction. QNB’s exceptional financial strength can make all of these possible without affecting the profit margin.

3. Focus on delivering premium customer experience: For past several years, QNB group has successfully delivered world-class products and services to their customers, and this was made possible for QNB’s focus on innovation and digitization. Several innovative technological changes like; new internet and mobile applications for improving proximity and customer experiences, increasing the number of electronic cheque machines, touch-screen interactive ATM machines with more functionality, deploying highly-versatile Interactive Teller Machines for secure and hassle-free transactions, enabling remote queuing service, launching instant transfer services between Qatar and India, and establishing the first-ever and only digital bank in Turkey, has saved a lot of time and labor and helped QNB to focus more on functions of their branches. This has also provided the sales and advisory channel of the bank, the opportunity to focus more on customers and add value and quality to their services, thus improving the quality of customer service and better customer satisfaction. The result of all such efforts of QNB has reflected in QNB’s 2018 Annual Report, showing a 10% growth of QNB ALAHLI and 7% growth of QNB Finansbank’s retail customer base, and 8% growth of new accounts for salaried customers in Qatar. Also in highly competitive Egyptian market, QNB, with a network of 216 branches, has modified their in-house customer profiling tool to provide their clients with customized and best suitable products according to their lifestyle, and hence the bank has been able to achieve a stellar growth in both deposits and retail loans.

Threat

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Key Business Segments / Diversification :

Qatar National Bank (QNB Group)
Wholesale and Commercial Banking Asset and Wealth Management
Retail Banking International Business
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Qatar National Bank SWOT & PESTLE Analysis - SWOT & PESTLE.COM

SWOT & PESTLE.com (2019). Qatar National Bank SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/qatar-national-bank/ [Accessed 17 Oct, 2019].

In-text: (SWOT & PESTLE.com, 2019)

Copyrights and Disclaimer

QNB Group SWOT and PESTLE analysis has been conducted by Abhik Verma and reviewed by senior analysts from Barakaat Consulting.

Copyright of QNB Group SWOT and PESTLE Analysis is the property of Barakaat Consulting. Please refer to the Terms and Conditions and Disclaimer for usage guidelines.

Qatar National Bank SWOT & PESTLE Analysis
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