QNB retains title as most valuable and strongest Qatari brand, valued at USD8.4 billion.
QNB has increased its brand value by 10% to USD8.4 billion, as well as increasing its brand strength index (BSI) score to 86/100 and maintaining its AAA rating. As the region's largest financial institution, its growth is fuelled by robust financial performance and strategic market positioning. In 2023, QNB's notable financial results, propelled by increased customer deposits, sustained a loan-to-deposits ratio of 99.5%, reinforcing financial stability and bolstering brand valuation.
The brand value of QNB is further enhanced by its geographical and market segment expansions. As the largest lender in the Gulf region, QNB has leveraged its market-leading position to optimise its brand equity, translating financial stability and growth into a higher brand value. The bank has also played an important role in financing major national infrastructure projects, including the North Gas Field project - one of the world's largest engineering initiatives aimed at boosting Qatar's LNG production by 64% by 2027.
Moreover, QNB's commitment to digital innovation has revolutionised banking in Qatar and beyond. Investments in cutting-edge digital solutions, including AI and digital onboarding, coupled with strategic partnerships with tech giants like Apple, Google, and Visa, have enhanced customer experiences and garnered industry accolades such as being named the Best Digital Solutions Bank in Qatar for 2023 by Euromoney.
Andrew Campbell, Managing Director, Brand Finance Middle East:
"Driven by its robust financial performance and undisputed dominance in the region's financial sphere, QNB has once again solidified its position as the most valuable and strongest Qatari brand. Relentlessly committed to customer-centricity, digital innovation, and sustainable finance, QNB is continuing to deliver exceptional value to its stakeholders across the Middle East and beyond."
QatarEnergy becomes fastest-growing Qatari brand, with impressive 82% brand value increase
QatarEnergy's brand value has achieved industry leading growth substantially due to the integration of its subsidiary, Qatargas, into the QatarEnergy brand. This achieved an 82% increase in its brand value to USD3.2 billion, positioning it as the fastest-growing Qatari brand. This remarkable growth was substantially due to the brand integration, but also benefited from a significant rise in revenues. The brand strength for the enlarged brand is well below peers at 62.3 which is not surprising as a brand embarks on major brand consolidation of this scale.
The anticipated increase in gas production from the North Field Expansion project, expected to be operational by the end of 2025, is projected to significantly boost QatarEnergy's revenue. This, alongside high oil prices and escalating hydrocarbon production, is poised to fortify Qatar's strong fiscal and external positions from 2023 to 2026. The strategic shift in global energy dynamics, especially the European pivot away from Russian gas, has positioned QatarEnergy as a crucial supplier in the energy market, poised to meet the burgeoning demand for additional exports.
QatarEnergy has also engaged in efforts to accelerate the global economy's transition to a low-carbon future and mitigating climate change. This supports the nation’s wider objective to generate 20% of its electricity from renewable sources by 2030 and achieve a carbon-zero footprint by 2050. QatarEnergy has also emphasised its operational responsibility, prioritising safety, and reliability across its operations. The company is also focused on driving positive social and economic outcomes within Qatar, aligning with Qatar's sustainability goals under the National Vision 2030.