The Qatar Islamic Bank (QIB) has been ranked as the “Fourth Strongest Bank in the Middle East” and “Second Strongest Islamic Bank in the World”.
The bank was also named as the ‘Strongest Bank’ and the ‘Strongest Islamic Bank’ in Qatar.
In its 2021 Rankings for the 500 Strongest Banks, financial services company The Asian Banker evaluated the bank’s performance based on six key indicators weighted by their relative importance.
The indicators are scale of the banks’ assets relative to domestic GDP, balance sheet growth of net finance and deposits, risk management of the bank’s operations, profitability and its sustainability, strength and credibility of finance disbursed and liquidity of assets to meet adverse events requiring cash outflow.
QIB has recently posted a net profit of QR2.5 billion ($686 million) for the first nine months of 2021, representing a growth of 13.9 percent over the same period in 2020.
Commenting on the achievement, Bassel Gamal, QIB’s Group CEO said: “We are pleased with QIB’s performance as we can see a major improvement compared to last year. In the future, we are committed to supporting our customers and continuously improving our services while achieving positive results.”