Qatar Islamic Bank (QIB) has received the ‘Islamic Bank of the Year – Qatar’ award by The Banker for the year 2017, marking the sixth consecutive year that QIB secures this prestigious award.
The award reflects QIB’s continuous efforts to develop its existing product suite and to create innovative financial solutions to meet the ever-changing needs of its customers. ‘Islamic Bank of the Year — Qatar’ also highlights the bank’s major contribution to the financial scene in Qatar and its leading position in the local banking sector.
The Banker, which is part of Financial Times Group, considers a number of quantitative and qualitative criteria before selecting its award winners. QIB was evaluated based on its financial results for the fiscal year 2017, as well as its reputation and customer service.
QIB Group CEO Bassel Gamal said, “Holding on to the Islamic Bank of the Year — Qatar award for a sixth year is an achievement that QIB has earned and worked towards sustaining.
“This award reflects QIB’s leading position in the local market and further motivates us to keep improving. As the second half of the year approaches, we look forward to continue serving the Qatari community and introduce new products and services for all our customers.”
QIB’s steady financial growth over the years reflects a healthy development in the bank’s core operating activities and strengthens its position in the local and regional market.
QIB reported a QR2.405bn net profit in 2017 compared to QR2.155bn in 2016, marking an 11.6% increase. Last year, the total assets of the bank increased by 7.5% compared to 2016, and now stand at QR150bn, while the total income grew to QR6.199bn, registering a 13% growth compared to 2016.
The Banker has been providing global financial intelligence since 1926 and has built a reputation for objective and insightful reporting on major events.
Every month, the magazine combines in-depth regional and country coverage with reports on capital markets and structured finance, risk management, working capital management and securities services, environmental finance, trade and project finance, trading, technology, management and governance issues.
The Banker FT awards honour the top Islamic financial institutions in the world to encourage and reward excellence in the industry.
Business / Business
QIB wins The Banker’s ‘Islamic Bank of the Year — Qatar’ award for 6th consecutive year
The award reflects QIB’s continuous efforts to develop its existing product suite and to create innovative financial solutions to meet customer needs.
