A year after launching its “Aamaly Programme,” QIB has again been named “Best Islamic Bank in Qatar” and “Best SME Islamic Finance Provider” by World Finance Magazine.
The magazine also has selected QIB as a member of its 2013 “World Finance 100 List.” The bank won the awards for its performance and achievements during 2013 across all market segments.
Other recent awards and recognitions include the Best Islamic Bank in Qatar from Euromoney, The Banker, Islamic Finance News (IFN), and Global Finance.
QIB said last year’s results have maintained the lender’s position as the “best Islamic bank” in Qatar. QIB’s customer deposits saw a steep rise of 16.7% to reach QR50.4bn by the end of 2013 compared to QR43.1bn in 2012.
Total assets increased by 5.7% and now stands at QR77.4bn compared to the previous year’s QR73.2bn.
Financing activities continue to be the major growth driver and have now reached QR47.1bn; the additional QR4bn represents a 9.3% growth compared to QR43.1bn last year.
QIB’s net benefits for 2013 totalled QR1.34bn, reflecting a growth rate of 7.6% compared to the previous year’s results due to the overall positive trends in its main statements.
QIB Group CEO Bassel Gamal said the bank “achieved considerable growth in SME financing operations during the past year, growing by an impressive 170%.”
“The growth in SME financing was the result of QIB’s successful ‘Aamaly’ programme, launched at the beginning of the year,” Gamal said.
He added, “The programme identified economic sectors that fell under the SME category and provided exceptional banking services as well as financial offers and incentives to the customers of this vital sector, which included manufacturing, trades and services, as well as contracting.”
Through Aamaly, Gamal said QIB “is aiming to raise the threshold in servicing the SMEs sector while helping build a sustainable economic growth. Its policy reflects that of the government in carrying out Qatar’s National Vision 2030.”
