Qatar National Bank (QNB), the largest bank by assets in the Middle East, is set to apply for an investment-banking license in Saudi Arabia. The bank’s group CEO Ali Ahmed al Kuwari said one of the plans is to have an investment license company. He said QNB Capital is one of the biggest in the region in terms of equity and debt capital market advisory as well as structuring advisory and it would seek a license from Saudi Arabia’s Capital Market Authority. QNB plans to build its investment banking business through its branch network in Saudi Arabia rather than via acquisitions, al-Kuwari said.
