QIIB’s board of directors proposed cash dividend of QR0.375 per share (37.5% of the nominal share value), subject to the approval of its financial statements by QCB and bank’s AGM
QIIB has posted a net profit of QR1,003mn in 2021, which represents an overall growth of 7% compared to the previous year.
The results were announced by QIIB chairman Sheikh Dr Khalid bin Thani bin Abdullah al-Thani after a meeting of its board of directors yesterday.
QIIB’s board of directors proposed distribution of a cash dividend to shareholders of QR0.375 per share (37.5% of the nominal share value), subject to the approval of its 2021 financial statements by Qatar Central Bank and the bank’s AGM.
Sheikh Dr Khalid said, “QIIB achieved exceptionally notable results in 2021, in alignment with Qatar’s strong overall economic growth. Our nation’s economy has been steadily growing across all sectors and indicators, which is due significantly to the vision and guidance of His Highness Sheikh Tamim bin Hamad al-Thani, Amir of the State of Qatar.”
Sheikh Dr Khalid said, “2021 was another fruitful year for QIIB, during which the bank has managed to improve its financial indicators and achieve its desired growth, in spite of the market’s inherent challenges. This is especially impressive since these were unique challenges that have gripped the entire global market, and greatly impacted the banking sector, forcing its participants to exert unprecedented efforts to adapt, and overcome those challenges.”
“The prudent policies pursued and enforced by the banking sector regulators and the government’s rescue plans along with its relentless support for all business sectors across the country, were all instrumental to the nation’s ability to overcome the repercussions of Covid-19.”
Sheikh Dr Khalid stated, “QIIB exerted tremendous efforts to implement the strategies that were put forth for 2021, ultimately managing to satisfy its commitments by maintaining growth indicators within targeted levels, improving operational efficiency, and finding solutions for the market’s challenges, and its expected and unexpected risks.”
“During the year, we co-operated with various business sectors to finance many value added projects that would serve the nation’s economic growth that are in line with our strategic plans. We continued to care for small and medium enterprises (SMEs), reinforcing our firm belief in the importance of supporting entrepreneurs in all their business endeavours, as they contribute greatly to the nation’s economy, and represent the future, within which we are devoted to invest in.”
Sheikh Dr Khalid noted, "Our consecutive accomplishments and overall ranking achieved by QIIB in 2021, prompted global credit rating agencies to acknowledge the high ranking of the bank, as Moody’s and Fitch gave the bank the rating of ‘A2’ and ‘A’ respectively, with a stable outlook.
QIIB chief executive officer Dr Abdulbasit Ahmed al-Shaibei noted, “By the end of the year, total revenue reached QR2.46bn, the bank’s total assets reached QR61.8bn and its financing assets stabilised at the end of the year at QR37.03bn. Customers’ deposits have also increased to QR38.65bn, representing a growth rate of 6.3%.”
The CEO said, “The bank continued to improve its operational efficiency (cost to return) during the year 2021, as it decreased further to 18.8%, which is one of the best in the banking sector on both the local and international level. This shows a very high level of competence in managing expenses and revenue, controlling expenditure while simultaneously maintaining a steady growth curve for all of the bank’s key financial indicators.
“By 2021, QIIB’s total equity reached QR8.7bn and the total capital adequacy of the bank under Basel III guidelines at 16.74%, demonstrating the strong financial standing of QIIB in spite of market variables and risks.
“QIIB’s 2021 results aligned with our projections, and we wish to achieve even more, especially since the economic climate has greatly improved as a result of the government's support plans to mitigate the repercussions of Covid-19, and the measures that were taken by the banking sector in general, as well as those that were taken by QIIB in particular, to improve performance and overcome the new changes induced by the pandemic.”
The CEO stated, “The vitality and growth that were achieved by the nation’s various financial sectors, directly impacted the banking sector’s performance, allowing it to achieve its current levels of growth. At QIIB, we always considered the local market’s ability to seize opportunities and address variables, to be a key factor in the nation’s ability to overcome the crisis, while achieving better growth rates and improving overall performance.”
“2021 was a very active year for QIIB, as the bank provided the best products and services to its corporate and individual customers. Perhaps, the greatest achievement the bank made during the year was finding the right solutions to digitally provide most of our banking products and services, including mobile financing and Internet banking, which, in particular, was very well received by clients and it assisted the bank complete its financing transactions in record time.”
Dr al-Shaibei stated, “With our great success in digital transformation, our operational efficiency has greatly improved, as we continued to control and lower our operational expenses, while still maintaining optimal scores in our key indicators. Our customer base has expanded, and the level of satisfaction of our customers towards our products and services has increased, especially due to our swift responses to any queries along with our exceptionally prompt services.”
In respect of seeking opportunities in foreign markets, the CEO noted, “In 2021, QIIB continued to implement its foreign investment strategy while considering risk controls, standards and regulations that it has adopted a long time ago for all markets across the globe, and as such, we reinforced the partnerships that have proven to be productive and we spared no effort to seize any new opportunities that add value and improve our investment portfolio.”
Dr al-Shaibei continued, “With the great progress that we have achieved in our performance across the board in 2021, QIIB was able to gain respect and honour, both locally and abroad and received several prestigious awards last year.”
The results were announced by QIIB chairman Sheikh Dr Khalid bin Thani bin Abdullah al-Thani after a meeting of its board of directors yesterday.
QIIB’s board of directors proposed distribution of a cash dividend to shareholders of QR0.375 per share (37.5% of the nominal share value), subject to the approval of its 2021 financial statements by Qatar Central Bank and the bank’s AGM.
Sheikh Dr Khalid said, “QIIB achieved exceptionally notable results in 2021, in alignment with Qatar’s strong overall economic growth. Our nation’s economy has been steadily growing across all sectors and indicators, which is due significantly to the vision and guidance of His Highness Sheikh Tamim bin Hamad al-Thani, Amir of the State of Qatar.”
Sheikh Dr Khalid said, “2021 was another fruitful year for QIIB, during which the bank has managed to improve its financial indicators and achieve its desired growth, in spite of the market’s inherent challenges. This is especially impressive since these were unique challenges that have gripped the entire global market, and greatly impacted the banking sector, forcing its participants to exert unprecedented efforts to adapt, and overcome those challenges.”
“The prudent policies pursued and enforced by the banking sector regulators and the government’s rescue plans along with its relentless support for all business sectors across the country, were all instrumental to the nation’s ability to overcome the repercussions of Covid-19.”
Sheikh Dr Khalid stated, “QIIB exerted tremendous efforts to implement the strategies that were put forth for 2021, ultimately managing to satisfy its commitments by maintaining growth indicators within targeted levels, improving operational efficiency, and finding solutions for the market’s challenges, and its expected and unexpected risks.”
“During the year, we co-operated with various business sectors to finance many value added projects that would serve the nation’s economic growth that are in line with our strategic plans. We continued to care for small and medium enterprises (SMEs), reinforcing our firm belief in the importance of supporting entrepreneurs in all their business endeavours, as they contribute greatly to the nation’s economy, and represent the future, within which we are devoted to invest in.”
Sheikh Dr Khalid noted, "Our consecutive accomplishments and overall ranking achieved by QIIB in 2021, prompted global credit rating agencies to acknowledge the high ranking of the bank, as Moody’s and Fitch gave the bank the rating of ‘A2’ and ‘A’ respectively, with a stable outlook.
QIIB chief executive officer Dr Abdulbasit Ahmed al-Shaibei noted, “By the end of the year, total revenue reached QR2.46bn, the bank’s total assets reached QR61.8bn and its financing assets stabilised at the end of the year at QR37.03bn. Customers’ deposits have also increased to QR38.65bn, representing a growth rate of 6.3%.”
The CEO said, “The bank continued to improve its operational efficiency (cost to return) during the year 2021, as it decreased further to 18.8%, which is one of the best in the banking sector on both the local and international level. This shows a very high level of competence in managing expenses and revenue, controlling expenditure while simultaneously maintaining a steady growth curve for all of the bank’s key financial indicators.
“By 2021, QIIB’s total equity reached QR8.7bn and the total capital adequacy of the bank under Basel III guidelines at 16.74%, demonstrating the strong financial standing of QIIB in spite of market variables and risks.
“QIIB’s 2021 results aligned with our projections, and we wish to achieve even more, especially since the economic climate has greatly improved as a result of the government's support plans to mitigate the repercussions of Covid-19, and the measures that were taken by the banking sector in general, as well as those that were taken by QIIB in particular, to improve performance and overcome the new changes induced by the pandemic.”
The CEO stated, “The vitality and growth that were achieved by the nation’s various financial sectors, directly impacted the banking sector’s performance, allowing it to achieve its current levels of growth. At QIIB, we always considered the local market’s ability to seize opportunities and address variables, to be a key factor in the nation’s ability to overcome the crisis, while achieving better growth rates and improving overall performance.”
“2021 was a very active year for QIIB, as the bank provided the best products and services to its corporate and individual customers. Perhaps, the greatest achievement the bank made during the year was finding the right solutions to digitally provide most of our banking products and services, including mobile financing and Internet banking, which, in particular, was very well received by clients and it assisted the bank complete its financing transactions in record time.”
Dr al-Shaibei stated, “With our great success in digital transformation, our operational efficiency has greatly improved, as we continued to control and lower our operational expenses, while still maintaining optimal scores in our key indicators. Our customer base has expanded, and the level of satisfaction of our customers towards our products and services has increased, especially due to our swift responses to any queries along with our exceptionally prompt services.”
In respect of seeking opportunities in foreign markets, the CEO noted, “In 2021, QIIB continued to implement its foreign investment strategy while considering risk controls, standards and regulations that it has adopted a long time ago for all markets across the globe, and as such, we reinforced the partnerships that have proven to be productive and we spared no effort to seize any new opportunities that add value and improve our investment portfolio.”
Dr al-Shaibei continued, “With the great progress that we have achieved in our performance across the board in 2021, QIIB was able to gain respect and honour, both locally and abroad and received several prestigious awards last year.”
