Fitch Ratings has affirmed QIIB's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'A' and its Short-Term IDR at 'F1', while maintaining the bank on Rating Watch Negative (RWN).
In its latest commentary, the rating agency clarified that placing QIIB on RWN is not driven by any idiosyncratic factors related to the bank's financial performance, linked to broader regional risks and pressures currently impacting the overall operating environment.
Fitch emphasised that QIIB's creditworthiness is anchored by a solid sovereign baseline, driven by a strong and continuous probability of government support if needed.
This is reflected in the bank's Government Support Rating (GSR) of 'A', backed by the State of Qatar's exceptionally strong fiscal position, substantial reserves, and large net foreign assets.
Fitch also highlighted QIIB's intrinsic strengths, including its deeply rooted franchise in the domestic market as one of the key pillars of stable Islamic banking.
The agency lauded the bank's standalone and operational metrics, noting that QIIB is characterised by solid asset quality, expanding profitability, and robust, sustainable liquidity levels.
A clear competitive advantage for QIIB over its domestic peers, Fitch noted, is its low and limited reliance on foreign and non-resident funding, which effectively insulates the bank from global market volatility and enhances its financial stability.
Fitch specifically highlighted the decline in the bank's non-performing financing (NPL) ratio to 2.6% at the end of the first quarter of 2026, down from 2.9% recorded at year-end 2025, supported by active recoveries and financing portfolio growth.
In tandem, the bank's non-performing financing coverage ratio increased to 100% by the end of Q1, 2026, reflecting a highly cautious and prudent provisioning policy.
Commenting on Fitch's affirmation of QIIB's ratings, Chief Executive Officer of QIIB, Dr Abdulbasit Ahmed al-Shaibei stated, "Fitch Ratings' affirmation of QIIB's advanced rating at 'A' serves as renewed tangible proof of the bank's structural resilience and the efficacy of the proactive strategies we deploy to navigate various economic developments, tied to geopolitical conditions. That underscores the strong correlation between our bank's robust performance and the solid economic umbrella of the State of Qatar, which possesses exceptional financial capabilities and solvency to safeguard and support the banking sector under all circumstances."