LOCATE ANY BANK BRANCH IN INDIA
Bank’s Overview
Qatar
National Bank (Q.P.S.C.)
QNB Group, established in 1964, has
steadily grown to become the largest financial institution in the Middle East
and Africa (MEA) region.
For the
nine months ended 30 September 2020, Net Profit reached QAR9.5 billion (USD 2.6
billion). Total Assets reached QAR986 billion (USD271 billion), an increase of
8% from 30 September 2019.
In 2016, QNB Group completed the acquisition of
99.88% stake in Turkey’s Finansbank A.Ş. (now known as QNB Finansbank), the 5th
largest privately owned universal bank. In 2013, the Group successfully
completed the acquisition of the second largest private bank in Egypt, QNB
ALAHLI (QNBAA) with existing ownership of 95.00%. The Group has also extended
its regional footprint by acquiring stakes in various financial institutions
including a 20% stake in Ecobank Transnational Incorporated (Ecobank), the
leading pan-African bank based in Togo, a 35% stake in the Jordan-based, the
Housing Bank for Trade and Finance (HBTF), 40% of Commercial Bank International
(CBI) based in the United Arab Emirates (UAE), 99.99% of QNB Tunisia, 54% of
the Iraqi-based Al-Mansour Investment Bank, and a 20% stake in the Al Jazeera
Finance Company in Doha. QNB Group also retains a 51% stake in QNB-Syria, and a
92 % stake in QNB Indonesia.
QNB Group has commenced operating its
Representative Offices in Vietnam and Myanmar. In 2017, the Group started its
operations in the city of Mumbai in addition to opening a second branch in
Kuwait during the first quarter of 2018. The Group also obtained the regulatory
approvals from the Hong Kong Monetary Authority (HKMA) in September 2019 to
open a branch in Hong Kong. This network expansion comes in support of its
vision to become a leading bank in the Middle East, Africa, and Southeast Asia,
in addition to establishing a foothold in highly competitive markets.
QNB Group’s presence through its
subsidiaries and associate companies extends to more than 31 countries across
three continents providing a comprehensive range of advanced products and
services. The total number of employees is more than 29,000 serving 20 million
customers operating through 1,100 locations, with an ATM network of more than
4,300 machines.
QNB Group has maintained its position as
one of the highest rated regional banks from leading credit rating agencies
including Standard & Poor’s (A), Moody’s (Aa3) and Fitch (A+). The Bank has
also been the recipient of many awards from leading international specialised
financial publications.
The Group
provides an array of investment banking services through its subsidiary, QNB
Capital, to corporate, government and institutional clients within Qatar and
globally. QNB Capital has one of the best corporate finance teams in the GCC
region offering extensive transaction experience and in-depth advisory –
including mergers and acquisitions, equity and debt capital markets, and
project financing advisory. The Group also offers brokerage services through
its subsidiary, QNB Financial Services (QNB FS), the first independently
regulated, licensed brokerage company launched by a bank in Qatar. QNB FS
offers a multi-market, multi-currency trading platform with access to several
markets.
Based on
the Group’s consistent strong financial performance and its expanding
international presence, QNB is currently ranked as the most valuable bank brand
in the Middle East and Africa, according to Brand Finance Magazine.
QNB Group has an active community
support program and sponsors various social, educational and sporting events.
For
further information, please contact QNB’s Public Relations Department at (+974)
4497 5704, Fax (+974) 4425 2589, email PR@qnb.com
What
is IFSC Code
IFSC is
short for Indian Financial System Code and represents the 11 digit character
that you can usually see on your bank’s cheque leaves, or other bank sponsored
material. This 11 character code helps identify the individual bank branches
that participate in the various online money transfer options like NEFT and
RTGS.
How
to find IFSC Code?
Ways
to find IFSC codes
- IFSC code can be found
on cheque leaf and bank passbook of the respective bank.
- Banks and respective
branch list of IFSC codes can be obtained from Reserve Bank of India’s
website.
- The IFSC code of a
particular bank can also be found on the banks’ official website.
Benefits
of IFSC Code
Benefits
of IFSC Code are :
- Helps to identify a
Bank and its respective branch
- Eliminates errors in
the process of fund transfer
- Transfers done with
IFSC such as NEFT, RTGS and IMPS are accurate
What is
MICR Code
MICR
or Magnetic Ink Character Recognition Code is a 9 digit code used for faster
processing of cheques. MICR number is also unique for every bank branch, hence
it helps in uniquely identifying the bank and branch participating in an
Electronic Clearing System (ECS). MICR Code like IFSC is a combination of 3
essential components:
- The first 3 digits represent
the city code.
- The middle 3 represent the
particular bank code.
- The last 3 digits
represent the specific branch code
Benefits
of MICR Code
Benefits
of MICR Codes are:
MICR
code enables efficient, quick and error-free processing of cheques. This is
possible with magnetic ink, reading machines and technology used in MICR.
Difference
between IFSC and MICR code
Magnetic
ink character recognition code (MICR) is a technology that enables faster
processing of cheques by recognizing unique characters printed on the cheque.
MICR consists of a 9 digit code. The
first three digits of the MICR code represent the city, the next three give the
bank code and the last three digits denote the branch of the bank. Similar to
an IFSC code, every branch of a bank has a specific MICR code. While IFSC is
used for online fund transactions, MICR is used for cheques.
Let’s
understand the difference between IFSC and MICR
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