Qatar National Bank has opened a representative office in Ho Chi Minh City in order to promote the development of trade between Qatar and Vietnam. The representative office will take on the role of expanding intermediary services in the areas of investment and trade with Middle Eastern companies intending to do business in Vietnam. It will also keep in touch with Vietnamese companies that are planning expansion in Middle Eastern markets. The QNB was established in 1964 as the first national commercial bank in Qatar with 50% of capital contributed by the Qatar National Investment Fund and the second half from the private sector. With a market share of approximately 45% in the financial and banking sector, QNB is considered the largest bank in Qatar and also the leading financial institution in the Middle East and North Africa, with a presence in 26 countries. Kasikorn Bank, specializing in providing services to small and medium enterprises in Thailand, just opened two representative offices in Ho Chi Minh City and Hanoi.