Qatar First Bank chief executive officer Abdulrahman Totonji has been recognised as one of the Top 10 CEOs in GCC in the Shariah-compliant banks’ category in the 6th edition of Top Conference and Awards 2022.
Organised by ‘TRENDS’ magazine, the Top CEO Awards are based on the financial performance, size, and corporate governance of GCC-listed companies.
The awards celebrate leadership in the Gulf Co-operation Council region and recognise institutions that create value and boost the region’s economy while maintaining transparency and good corporate governance.
Totonji played a crucial role in leading the team at QFB to cement the bank’s position with a turnaround financial performance, as well as, to build a more diversified investment portfolio and stable income, leading QFB to a profitable position during its critical shift to a new strategic direction.
Totonji said, “I am truly honoured to receive this prestigious award from Top CEO, which would not have been possible without a solid strategic direction, the support of our team, trust and confidence of the Board of Directors and our shareholders. At QFB, we remain committed to strengthening our investment portfolio in Qatar and beyond by offering sustainable profitability, growth, and risk-adjusted results through our top-notch innovative Shariah-compliant products.”
In 2021, QFB achieved its highest ever net profit (attributable to equity holders of QFB) in the past six years of QR100.37mn.
The bank continued its profitable momentum in the first quarter of 2022, recording a net profit of QR21mn.
The bank’s total assets under management reached QR3.85bn, an increase of 79% over the last year, following various real estate acquisitions in the US real estate market.
QFB is the first independent Shariah-compliant bank authorised by the QFC Regulatory Authority (QFCRA) and a listed entity on the Qatar Stock Exchange.