Qatar Islamic Bank (QIB) has received the “Best Bank in Qatar” award at the 2016 edition of the “Euromoney Awards for Excellence” held in Dubai. The ceremony recognises the achievements of banking institutions in the Middle East.
The awards programme seeks to showcase financial institutions that deliver world-class services to their clients and which are successfully able to adapt to changing market conditions. QIB won the “Best Bank in Qatar” award on the strength of its customer service, portfolio of products and services, steady growth, and its strong performance relative to its local competitors.
“We are pleased to be named ‘Best Bank in Qatar’ at this year’s Euromoney Awards for Excellence,” said Bassel Gamal, QIB Group CEO.
“This award is a reflection of our robust financial performance, it also speaks to the support of our board of directors, and the great effort we put into presenting an exceptional, holistic financial experience to our customers.
“The award is also a testament that Islamic banks in general are being able to offer Shariah-compliant products and services that is enabling them to compete across the whole financial sector,” Gamal said.
QIB caters to the needs of its clients via specialised programmes such as “Tamayuz” and private banking, and the “Aamaly” programme, which is aimed at small and medium-sized enterprises.
QIB conducts its domestic business through a network of branches spread throughout the country. Key branches offer dedicated centres for ladies and dedicated lounges for affluent customers, and augmented by more than 165 multi-function ATM installations, 24/7 phone banking, QIB mobile application, and Internet banking.
The bank outperformed the market by the end of 2015 on several important metrics. QIB total assets grew by 32%, financing activities grew by 46%, while total deposits achieved 37% growth, and net profit grew by 22% compared to end of 2014.
Crucially, QIB has managed to achieve such success while preserving a conservative risk profile and generating excellent value for the Bank’s shareholders.
QIB has been internationally-recognised by several financial publications in 2016. Earlier this year, Gamal was ranked first among 100 best-performing CEOs of listed companies in the GCC states at the Trends/Insead 2016 Top CEO awards.
In April, QIB was selected by Global Finance as the “Best Islamic Retail Bank” in the world and “Best Islamic Bank” in Qatar.