International Bank of Qatar (IBQ) has received the ‘Best Private Bank in Qatar Award’ from Global Finance magazine during the third annual ‘World’s Best Private Banks Awards’ ceremony held recently.
Chaouki Daher, general manager and head of Private Banking at IBQ, received the award on behalf of the bank at the gala dinner held at The Harvard Club in New York City.
The ‘Best Private Bank in Qatar Award’ recognises IBQ’s excellence in private banking, wealth management, and its commitment to developing strong and long-lasting relationships with its customers over six decades.
The bank managed to build an innovative portfolio of investment solutions and product offerings for the benefits of influential high net worth and ultra-high net worth families in Qatar.
Global Finance’s editorial board selected the winners based on market research, input from industry analysts and experts, and information from other users of private banking services, along with other criteria.
Chaouki Daher, GM and head of Private Banking at IBQ, said: “This prestigious ‘Best Private Bank in Qatar’ award is a testament of our excellence in private banking and wealth management and strengthens our position on the local market. IBQ team of private bankers has one of the best local expertise and insights, allowing us to cater to the needs of our HNWI and UHNWI customers.
“We spent our over 60 years’ journey building strong relationships with our customers, who, in return, gave us their trust. We thank both IBQ customers for their valued confidence and the Global Finance judges for their recognition. I am very proud of what we have accomplished so far and I would like to dedicate this award to my very talented team. When you have the best team, you become the best private bank.”
IBQ recently announced its 2017 financial results which showed total operating income up by 13% and net profit up by 11% (to QR555.1mn) compared to 2016. The results were achieved on the back of core underlying transactions emanating from strong client franchise. They were a testimony to the success of the bank's business strategy, which focuses on the Qatari market.
