Qatar Islamic Bank (QIB) was ranked second in Qatar, 20th in the Middle East, and 248th in the world in the 'Top 1,000 World Banks' list, the largest and most important edition of the year in The Banker magazine.
This evaluation is derived after analysing each bank’s strengths and weaknesses through eight categories: growth, profitability, operational efficiency, asset quality, return on risk, liquidity, soundness, and leverage.
QIB’s ranking reflects its solid performance and stability, as well as its ability to ensure business continuity and growth considering the Covid-19 pandemic. It also reflects the bank’s success in maintaining its longstanding position as Qatar’s largest private bank, the largest Islamic bank in the country, and a leading Islamic bank regionally.
Total assets of the bank now stand at QR184bn, higher by 5.4% compared to December 2020 and a growth of 10.9% compared to June 2020.
The Banker's global and regional rankings have been industry standard measures of financial institutions performance for more than 50 years. The Banker's Top 1,000 World Banks ranks the largest banks by Tier 1 capital, a key measure of banking strength. In addition, it analyses more than 120 data points tracked by The Banker database year-on-year.
QIB Group CEO Bassel Gamal said, “We are pleased with our ranking amongst the Top 20 banks in the Middle East and being one of the top-performing banks in the region and the second in Qatar. This prestigious ranking reflects QIB’s and Qatar’s banking sector outstanding financial performance and stability despite this challenging year.
“QIB is a leading regional bank, contributing to reshaping and empowering the banking industry in Qatar and the Middle East through our investments in digital innovation and customer-centric approach.”