Tag Archives | Qatar National Bank (QNB)

Mansour Bank Opts for ICSFS Software

By John Lee. ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announces that Mansour Bank for Investment, an Iraq-based bank and its partner, Qatar National Bank (QNB) (owns 51%), has selected its global awards winning flagship ICS BANKS to replace its core banking and IT systems. The […]

Bank Earnings Take a Hit

By Mark DeWeaver. It’s been lackluster year for the ISX-listed banks. Total pre-tax profit for the 12 non-Islamic lenders that have reported so far fell 12% in the first half on a 3% decline in operating revenue, an 8% increase in operating expense, and a 21% increase in administrative expense. Earnings dropped at 7 of […]

Economy Starts to Hum, but Projects Need to Ramp Up

By Sherif Salem. As has often been the case in Iraq, developments in recent weeks have inspired both pessimism and optimism. On the one hand, an increase in bomb attacks – with 300 fatalities in April – raised fears of a return to the peak in levels of violence seen of 2005-2006. And events in […]

Qatar National Bank Takes Over Iraq’s Al-Mansour

By John Lee. Qatar National Bank (QNB) has announced that it has taken control of Iraq’s Al-Mansour Investment Bank. It acquired an additional 27.7 percent shareholding for a cash payment of QR425.4 million, bringing its interest in the bank to 50.8 percent. The company said that goodwill of QR117.6 million has been determined on acquisition […]