Capital Intelligence Raises QIB’s Long-Term Foreign Currency Rating to ‘A+’

April 12, 2017

Qatar Islamic Bank (QIB), announced that, the Capital Intelligence Ratings (CI Ratings), the international credit rating agency, has affirmed QIB’s Financial Strength Rating (FSR) at ‘A’ with a ‘Stable Outlook’. The FSR is supported by good overall capital adequacy including a strong and improved CET-1 ratio, and still fairly good profitability, which is underpinned by a low cost base. The Bank’s Long-Term FCR is raised to ‘A+’ while the Short-Term FCR is affirmed at ‘A2’ on a ‘Stable Outlook’. These indications reflect the QIB’s strong financial profile, the robust growth potential of the Qatari economy and the on-going government support for all Qatari banks.

“We are very pleased with the upgrade of our long term foreign currency rating and the affirmation of our FSR rating by CI. They are solid confirmations asserting the Bank’s enhanced asset quality and robust capital position.” said Bassel Gamal, Group Chief Executive Officer of QIB. “The ratings affirm the Bank’s success in pursuing our long-term growth and performance objectives and speak to the strength of Qatar’s economy and of the Islamic banking industry.”