Mansour Bank is newly rated B- with Stable Outlook from Fitch Ratings

Posted on : Tue, 11 June 2024

Doha, 9 June 2024 – Al Mansour Bank for Investment (Mansour Bank), a subsidiary of QNB, the largest financial institution in the Middle East and Africa, announced Fitch Ratings has issued its Long-Term Issuer Default Rating (IDR) of 'B-' with a Stable Outlook and a Viability Rating of 'ccc+', which recognizes QNB Group’s successful and stable investment strategy. 
Fitch Ratings' assessment highlights Mansour Bank's resilience and strong performance amidst evolving market dynamics, affirming the bank's robust position within the financial sector. With a stable outlook, Mansour Bank remains poised to navigate future challenges while continuing to deliver exceptional value to its stakeholders.
“We are pleased to receive this recognition from Fitch Ratings, which reflects our unwavering dedication to sound governance, prudent risk management, and sustainable growth," said Dr. Walid AbdelNour, CEO of Mansour Bank. 
"This achievement reinforces our confidence in our strategic direction and strengthens our determination to uphold the highest standards of service," Dr. Abdelnour added.
QNB Group currently ranks as the most valuable bank brand in the Middle East and Africa. Through its subsidiaries and associate companies, the Group’s presence spans more than 28 countries across three continents providing a comprehensive range of advanced products and services. The total number of employees is 30,000, operating from approximately 900 locations, with an ATM network of 5000 machines.