Qatar National Bank (QNB) recently opened a representative office in Ho Chi Minh City with the desire to promote the development of trade between Qatar and Vietnam, according to vietnambreakingnews.com. The QNB 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 percent of capital contributed by the Qatar National Investment Fund and the second half from the private sector. With a market share of approximately 45 percent 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. Last year the bank's net profit reached $2.9 billion, up 10.3 percent from 2013. Total assets also increased by 9.7 percent compared to December 2013, to $133.6 billion. 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.