QNB (brand value up 9% to US$7.7 billion) is the most valuable Qatari brand, according to a new report from leading brand valuation consultancy, Brand Finance.
Every year, leading brand valuation consultancy Brand Finance puts thousands of the world’s biggest brands to the test, and publishes over 100 reports, ranking brands across all sectors and countries. Qatar’s top 10 most valuable and strongest are included in the annual Brand Finance Qatar 10 2023 ranking.
QNB has grown strongly this year and retained its position (45th globally) as amongst the most valuable banking brands in the world. This reflects the success of the bank’s continued efforts to expand its international presence and offering to an increasingly diverse customer base. QNB’s sponsorship of the 2022 FIFA World Cup has likely raised its awareness and familiarity amongst consumers and may in turn help to boost its brand value further in the future.
Andrew Campbell, Managing Director, Middle East, Brand Finance commented:
“The FIFA World Cup brought huge attention from across the world to Qatar. This was an unprecedented opportunity to showcase Qatari brands to the world and to consumers, with brands such as QNB and Qatar Airways trying to take advantage of the situation. At the same time, the contested geo-strategic situation allows business-to-business brands such as Qatargas to be a trusted energy supplier to the world.”
Qatargas (brand value up 147% to US$3.1 billion) is the fastest growing Qatari, and Middle Eastern brand in 2023. It is one of the world’s leading gas producing brands and is owned by QatarEnergy. This year it has seen significant growth due to the increase in global demand for their product following the embargo of Russian gas by many countries. This has effectively constrained supply for many gas users and improved sales for Qatargas. An increased capacity is enabling the company to capitalize on the hike in gas prices and the increasing demand for Qatar LNG.
Qatar Airways (brand value up 23% to US$2.5 billion) is the fastest growing Middle Eastern airline brand and the second most valuable. The airline has rebounded from pandemic restrictions and has now surpassed its pre-pandemic brand valuation of US$2.3 billion. Qatar Airways played a very high-profile role in the World Cup, with the flag carrier of Qatar an obvious transportation option for visitors, players, and officials for the event.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance. Compliant with ISO 20671, Brand Finance’s assessment of stakeholder equity incorporates original market research data from over 150,000 respondents in 38 countries and across 31 sectors.
QNB earned the highest-rating in the Qatar 10 ranking for brand strength, a reflection that it is held in high regard by its key stakeholders. QNB’s association with the patriotic fervour connected to local sporting events has strengthened its position as a national champion brand of Qatar. As the largest financial institution in the Middle East and Africa, the QNB brand is in a powerful regional leadership position.