Qatar Airways, QNB ranked among the region’s most valuable brands

Qatar National Bank (QNB) has one of the strongest brands in the Middle East, according to a new business report.

That news will likely be of comfort to company shareholders, though the report didn’t take into account any potential damage to the bank’s reputation following last month’s hacking scandal.

An annual report by a UK marketing consulting firm released this week found that QNB has the fifth-most valuable brand in the Middle East for the second straight year.

QNB is one of eight Qatar companies that made Brand Finance’s Middle East top 50 list, up from six last year.

Other local firms on the list include Qatar Airways, Ooredoo and several financial firms, such as Commercial Bank, Qatar Islamic Bank and Doha Bank.

Rankings are determined by the “value” of a company’s brand, which is calculated by estimating the hypothetical royalties one would have to pay to use it.