• QIIB constant its overall good assets quality, strong profitability and operating efficiency, Capital Intelligence affirms QIIB rating at ‘A’ with a stable outlook;

• Chief Executive Officer Dr. Al-Shaibei: QIIB owes its strong financial position to the rich opportunities provided by the Qatari economy

Capital Intelligence Ratings (CI) has affirmed its ratings of QIIB at ‘A’ with a stable outlook, which reflects the strength of the bank's financial position.

The ratings agency noted that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of QIIB at 'A' and 'A1', respectively, based on a set of criteria that indicate that the various bank data and numbers are in a strong and stable position.

The agency also stressed that QIIB has a strong deposit base, its assets are characterised by quality, and enjoys strong profitability, good capitalisations and continued operating efficiency gains, as the credit concentrations in its real estate sector are declining.

Capital Intelligence also noted the bank has good liquidity, and enjoys strength in the retail sector, and most of the bank's deposits are from the local market, even as non-domestic deposits make up a minimal share.

The ratings agency mentioned that “the above rating to reflect the high likelihood of official extraordinary support in case of need”,

They added, “The Government’s financial capacity to support the Bank is also considered to be strong given Qatar’s sovereign rating (‘AA-’/Stable)”.

On the occasion, QIIB Chief Executive Officer, Dr Abdulbasit Ahmad al-Shaibei said, “This good rating is a natural reflection of the strength and high solvency of the Qatari economy, its ability to meet different conditions, achieve stable growth, and provide opportunities for various economic sectors, foremost of which is the banking sector".

He said, "QIIB owes its strong financial position to the rich opportunities provided by the Qatari economy, which witnesses dynamic activities in various projects and all sectors with great competitiveness and the ability to find solutions for numerous factors and emerging conditions.

“At QIIB, we are committed to our strategy that focuses on the local market, and contribute to the development and financing of various projects.”

Dr. Al-Shaibei stressed, “The factors that Capital Intelligence relied on for QIIB rating include a recognition of the success of our strategic plans and interim plans, as we carefully studied the market factors and evaluated existing and potential risks. And we were able to maintain our high ratings, meanwhile safeguard the interest of our clients and shareholders alike.”

The CEO noted that during the past periods, QIIB implemented an ambitious plan that focused on enhancing operational efficiency; restructure the locations of the bank’s branches, in addition to our stress on development of alternate channels and technological infrastructure.

In addition, this has been greatly reflected on our services, generated demand for such services, enhanced our customer base and strengthened our position in the market as a reliable provider of banking services, whether for individuals or companies. "

Dr Al-Shaibei expressed his optimism about QIIB’s ability to maintain its strong financial position, implement its approved plans and programmes, mitigate various risks, and deal with various market factors and developments, based on the capabilities provided by the Qatari economy and the continued implementation of various projects.