The Banker magazine recently recognised Qatar Islamic Bank (QIB) as the ‘Best Performing Bank in Qatar’ in the Top 100 Arab Banks Rankings for 2022.
Ranking Qatar’s five largest banks by Tier 1 Capital, excluding foreign-owned subsidiaries, QIB emerged as ‘Best Performing Bank in Qatar’ with table-topping scores for operational efficiency and asset quality.
In 2021, QIB achieved the highest figures in the market in Return on Equity and Return on Assets, as well as achieving the best cost-to-income efficiency ratio in Qatar and the Mena region at 18.1%, maintaining its longstanding position as Qatar’s largest Islamic bank in the country and a leading Islamic bank in the region.
Additionally, QIB continues to build on the digital banking momentum with first-to-market and personalised products taking the customer experience to new levels. The bank keeps introducing features to its award-winning mobile app making it the highest-rated banking app in the country and customers’ preferred banking channel to fulfil their financial needs.
Commenting on the new ranking, QIB Group CEO Bassel Gamal said: “We are pleased to be named ‘Best Performing Bank in Qatar’ and to receive such prestigious recognition for our exceptional growth and commitment to our clients.
“This is a proud moment for the whole team and a testament to their commitment to efficiency that wouldn’t be achievable without the continuous support of the board of directors. Our strong results and overall profitability demonstrate the efficiency of our business model and digital transformation strategy.”
The bank’s performance for the six months period ended June 30, 2022, has been positive with net profit attributable to the shareholders of the bank amounting to QR1,815mn representing a growth of 13.8% over the same period in 2021.
Total assets of the bank increased by 4.8% compared to June 2021 and now stand at QR193bn, driven by the growth in investing activities. The bank has further improved its efficiencies and brought down the cost-to-income ratio to 16.8%, which is the lowest in the Qatari banking sector.
The Banker magazine, a Financial Times publication and a leading global finance news publication, publishes a ranking of the Top 100 Arab Banks rankings in each country based on their overall performance, growth, profitability, operational efficiency, asset quality, return on risk, liquidity, soundness, and leverage.
Ranking Qatar’s five largest banks by Tier 1 Capital, excluding foreign-owned subsidiaries, QIB emerged as ‘Best Performing Bank in Qatar’ with table-topping scores for operational efficiency and asset quality.
In 2021, QIB achieved the highest figures in the market in Return on Equity and Return on Assets, as well as achieving the best cost-to-income efficiency ratio in Qatar and the Mena region at 18.1%, maintaining its longstanding position as Qatar’s largest Islamic bank in the country and a leading Islamic bank in the region.
Additionally, QIB continues to build on the digital banking momentum with first-to-market and personalised products taking the customer experience to new levels. The bank keeps introducing features to its award-winning mobile app making it the highest-rated banking app in the country and customers’ preferred banking channel to fulfil their financial needs.
Commenting on the new ranking, QIB Group CEO Bassel Gamal said: “We are pleased to be named ‘Best Performing Bank in Qatar’ and to receive such prestigious recognition for our exceptional growth and commitment to our clients.
“This is a proud moment for the whole team and a testament to their commitment to efficiency that wouldn’t be achievable without the continuous support of the board of directors. Our strong results and overall profitability demonstrate the efficiency of our business model and digital transformation strategy.”
The bank’s performance for the six months period ended June 30, 2022, has been positive with net profit attributable to the shareholders of the bank amounting to QR1,815mn representing a growth of 13.8% over the same period in 2021.
Total assets of the bank increased by 4.8% compared to June 2021 and now stand at QR193bn, driven by the growth in investing activities. The bank has further improved its efficiencies and brought down the cost-to-income ratio to 16.8%, which is the lowest in the Qatari banking sector.
The Banker magazine, a Financial Times publication and a leading global finance news publication, publishes a ranking of the Top 100 Arab Banks rankings in each country based on their overall performance, growth, profitability, operational efficiency, asset quality, return on risk, liquidity, soundness, and leverage.