Total shareholders’ equity reached QR13.7bn in the first quarter. Total capital adequacy of QIB (under Basel III) is 17.4% as of March 2018, higher than the minimum regulatory requirements prescribed by the Qatar Central Bank and the Basel Committee. In April 2018, Fitch Ratings affirmed QIB’s credit rating at ‘A’; Standard & Poor’s ‘A-’ and Capital Intelligence at ‘A’. In May 2017, for the first time Moody’s assigned long-term deposit ratings to QIB at ‘A1’.
During the first quarter of 2018, QIB won awards that “confirmed its leading position” in Qatar’s and the region’s banking sector. QIB took centre stage at the recently Global Finance Magazine annual awards for the “World’s Best Islamic Financial Institutions 2018”, where it won the following six awards: ‘Best Islamic Financial Institution in the Middle East’; ‘Best Islamic Financial Institution in Qatar’; ‘Best Islamic Financial Institution for Large Corporate’; ‘Best Islamic Project Finance Provider’; ‘Best Real Estate Deal of the Year’ and ‘Best Sukuk Deal of the Year’.
QIB also received three awards from Islamic Finance News (IFN) for 2017: ‘Best Islamic Bank in Qatar’; ‘Best Deal of the Year in Qatar’ and ‘Structuring Deal of the Year.’ These awards recognise the impressive progress QIB has made in establishing itself as a leading banking institution in the Middle East while cementing its leadership position in Qatar, its home market.
Sources and photo-credits: Gulf Times