QIB named ‘Islamic Bank of Year’ in Qatar and Mideast

 12 Jun 2016 - 0:49

DOHA: For the second year in a row The Banker, the world’s longest-running international banking title and the leading monthly title of the Financial Times Group, named QIB the ‘Islamic Bank of the Year’ in the Middle East at the magazine’s prestigious annual Islamic banking awards.
2016 also marks the fourth consecutive time that QIB was selected as Qatar’s ‘Islamic Bank of the Year’.
Established in 1926, The Banker is read by senior decision makers at the world’s foremost financial institutions. Each year, The Banker produces a definitive ranking of the industry’s best Islamic financial institutions in order to promote and reward excellence in the global Islamic banking community.
“We are pleased to have been named the ‘Islamic Bank of the Year’ in both Qatar and the Middle East again this year”, said Bassel Gamal, Group CEO, QIB. “These awards are the result of the vision of our Board of Directors and of the hard work put in by QIB’s employees. Thanks to their dedication and professionalism and the loyalty of the Bank’s customers and the continuous support of the board, QIB has become a leader among the region’s Islamic financial institutions.”
In a special report about the magazine’s Islamic Bank of the Year Awards, The Banker explains that QIB was chosen as its Middle East and Qatari Bank of the Year in large part because of its “remarkable growth” in 2015 and its recent involvement in a number of high-profile syndicated deals in the Mena region. According to the magazine, “The judges were impressed by QIB’s corporate banking growth, as well as the Bank’s financial institutions division growth, driven by a greater level of involvement in several bilateral and syndicated financing transactions to regional and international banks”. A leader in the local retail banking market, the Bank continues to increase its market shares in individuals’ financing and deposits.
QIB continues to experience steady growth across a broad range of key performance indicators. In 2015, the Bank’s total income rose 24 percent to reach QR4.51bn and its net profits grew by 22 percent, closing out the year at QR1.95bn. During that same time period, QIB’s total assets increased by 32 percent, with customer deposits rising 37 percent and financing activities growing an impressive 46 percent. The total assets of the Bank stand at QR127bn, of which QR 92bn consist of customer deposits.
“Winning ‘Middle East Islamic Bank of the Year’ shows how important Qatar’s Islamic financial sector has become in the Mena region”, said Gamal. “In the past few years, QIB has played a leading role in some of the Middle East’s biggest and most exciting financial transactions. We are pleased to be a major player in the region’s Islamic banking market.”

The Peninsula

DOHA: For the second year in a row The Banker, the world’s longest-running international banking title and the leading monthly title of the Financial Times Group, named QIB the ‘Islamic Bank of the Year’ in the Middle East at the magazine’s prestigious annual Islamic banking awards.
2016 also marks the fourth consecutive time that QIB was selected as Qatar’s ‘Islamic Bank of the Year’.
Established in 1926, The Banker is read by senior decision makers at the world’s foremost financial institutions. Each year, The Banker produces a definitive ranking of the industry’s best Islamic financial institutions in order to promote and reward excellence in the global Islamic banking community.
“We are pleased to have been named the ‘Islamic Bank of the Year’ in both Qatar and the Middle East again this year”, said Bassel Gamal, Group CEO, QIB. “These awards are the result of the vision of our Board of Directors and of the hard work put in by QIB’s employees. Thanks to their dedication and professionalism and the loyalty of the Bank’s customers and the continuous support of the board, QIB has become a leader among the region’s Islamic financial institutions.”
In a special report about the magazine’s Islamic Bank of the Year Awards, The Banker explains that QIB was chosen as its Middle East and Qatari Bank of the Year in large part because of its “remarkable growth” in 2015 and its recent involvement in a number of high-profile syndicated deals in the Mena region. According to the magazine, “The judges were impressed by QIB’s corporate banking growth, as well as the Bank’s financial institutions division growth, driven by a greater level of involvement in several bilateral and syndicated financing transactions to regional and international banks”. A leader in the local retail banking market, the Bank continues to increase its market shares in individuals’ financing and deposits.
QIB continues to experience steady growth across a broad range of key performance indicators. In 2015, the Bank’s total income rose 24 percent to reach QR4.51bn and its net profits grew by 22 percent, closing out the year at QR1.95bn. During that same time period, QIB’s total assets increased by 32 percent, with customer deposits rising 37 percent and financing activities growing an impressive 46 percent. The total assets of the Bank stand at QR127bn, of which QR 92bn consist of customer deposits.
“Winning ‘Middle East Islamic Bank of the Year’ shows how important Qatar’s Islamic financial sector has become in the Mena region”, said Gamal. “In the past few years, QIB has played a leading role in some of the Middle East’s biggest and most exciting financial transactions. We are pleased to be a major player in the region’s Islamic banking market.”

The Peninsula