Global Finance names IBQ ‘Best Private Bank in Qatar’

International Bank of Qatar (IBQ) was named ‘Best Private Bank in Qatar’ by Global Finance’s fourth annual ‘World’s Best Private Banks Awards’. The award yet again recognises IBQ’s excellence in private banking and wealth management and its commitment to developing long-lasting privileged relationships with its clients. The winners are those banks that best-serve the specialised needs of high-net-worth individuals as they seek to enhance, preserve and pass on their wealth. IBQ said the winners are not always the biggest institutions, but rather the best: those with qualities that individuals rate highly when choosing a provider.Global Finance’s editorial board selected the winners for the ‘Private Bank Awards’ with input from executives and industry insiders. The editors also use information from entries submitted by banks, in addition to independent research, to evaluate a series of objective and subjective factors.“Our selections of the ‘World’s Best Private Banks’ identify the wealth management teams that are responding most effectively to the mix of challenges and opportunity that characterises private banking at the start of the 21st century,” said Joseph D Giarraputo, publisher and editorial director of Global Finance.Chaouki Daher, GM and head of Private Banking at IBQ, said: “We are proud to receive this prestigious award, which is a testament to IBQ’s position as the private bank of choice in Qatar. “With our holistic and disciplined approach to wealth management, combined with tailor-made services, and experienced wealth managers, we constantly strive to create a legacy of excellence in wealth management services that stands by and fulfils the needs of High Net Worth families across generations.”He added: “I would like to thank the whole team at the IBQ Private Bank for committing to IBQ’s strong service-driven culture and approach that is helping us securing our clients’ loyalty and trust over the years. This award wouldn’t have been possible to constantly be received without their commitment.”Recently, IBQ announced its Q3 2018 results, which showed total operating income up by 8% and net profit up 13% to reach QR487.5mn compared to the first nine months of 2017. These strong results are driven by core underlying business flows emanating from a strong client franchise.