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QIB-UK, a wholly owned subsidiary of Qatar Islamic Bank Group, was fully authorized as an Islamic Bank by the UK Financial Services Authority in January 2008.
Qatar Islamic Bank (QIB), Qatar’s leading Islamic Bank, has been recognized for the first time as the “Bank of The Year - Qatar 2015” by The Banker magazine – the World’s longest running international banking title and the leading monthly title of the Financial Times Group, as part of their Bank of the Year Awards 2015.
The selection process was based, among other factors, on an institution’s progress in the preceding year, and reflects QIB’s outstanding growth and development. The Bank of the Year awards ceremony was held in London on the 2nd of December 2015 and the award was presented to Mr. Bassel Gamal, QIB’s Group Chief Executive officer.
During the first nine months ending 30th September 2015, QIB Net Profit amounted to QAR 1.4 Billion representing a growth of 24.8% over the same period of 2014. Total Assets of the Bank have also increased by 28% compared to December 2014 and now stands at QAR 123 Billion driven by a continued growth in the core financing and investing activities. Financing activities now stand at QAR 82 Billion having increased by QAR 22 Billion representing 38% increase compared to December 2014. Customer Deposits of the Bank have grown by QAR 20 Billion to reach QAR 87 Billion representing a growth of 30% compared to December 2014.
This outstanding overall growth, along with its many technological, community- and customer-oriented initiatives, was a key factor in the Bank’s success at The Banker - Bank of the year Awards 2015.
In a letter to QIB management, FT Financial publisher said: “The aim of the awards programme is to reward and promote industry wide excellence in the global banking community.”
He continued, “The Banker’s judging panel felt that QIB made the most progress over the 12 months; something which is not only in terms of the bank’s strong financials, but also in the wide range of initiatives which the bank undertook during this period. This awards recognition, by the world’s longest running international banking title, is testament to the strong management, sound business model and strategy of QIB.”
Mr. Bassel Gamal, QIB’s Group CEO commented: “This award is a reflection of the significant progress that QIB consistently made throughout the past few years. Over the past year, we have outperformed the market both in terms of balance sheet and profitability growth delivering strong and sustainable results to our shareholders.”
“With the introduction of new products and services, a refined coverage model and a genuine attention to our customers, we have been able to deepen our relationships with all our customer segments across the entire spectrum of their financial needs. This has resulted in attracting new clients to Islamic Banking, proving that Islamic Banks are able to compete with conventional banks across all banking services,” he added.
“The recognition of being named “Bank of the Year 2015” in Qatar is a testament to the collective efforts of all the Bank’s staff, support from all stakeholders and the Board of Directors, our clients' trust, a sound business model and our commitment to continuous improvement.” Mr. Gamal concluded.
Recently this year, QIB was also recognised as the Islamic Bank of the Year 2015 in the Middle East, as well as – for the third year in a row – being awarded ‘Islamic Bank of the Year’ in Qatar by The Banker magazine, making QIB the first and only Bank in the world that get recognised across both categories’ awards in the same year.
QIB was also recognised in The Banker’s annual comparative ranking of banking brands. The ranking highlighted QIB as the fastest growing financial brand in the world, with its brand value rising 91% over the previous year, making the Bank one of the top 50 most valuable brands of all industries in the MENA region.
Read in over 180 countries around the world, The Banker – which has been providing global financial intelligence since 1926 and is the world’s longest running international banking title and the leading monthly title of the Financial Times Group – is the key source of data and analysis for the industry.Back to All News Updates