6 days ago
QIB receives two prestigious awards from The Asian Banker
Tribune News Network
Doha
Qatar Islamic Bank (QIB), Qatar's leading digital bank, has received two major accolades at The Asian Banker Leadership Achievement Awards 2025. QIB Group CEO Bassel Gamal has received CEO Leadership Achievement for Qatar Award, while QIB has been named Best Managed Bank in Qatar for the period from January 2022 to December 2024.
This recognition reflects the strength of QIB's strategy, its consistent performance, and its commitment to building a modern, inclusive, and resilient financial institution. Under the visionary leadership of QIB Group CEO Bassel Gamal, the bank has redefined the banking experience in Qatar and beyond, establishing itself as a global leader in Islamic finance. Since assuming his role in 2013, Gamal has transformed QIB into a pioneering institution, driving innovation, exceptional financial performance, and unmatched customer satisfaction while upholding Shari'a principles at the core of its operations.
In 2024, QIB's net profit rose by 7 percent year-on-year to reach QR4,605 million. Total assets increased by 6.1 percent, reaching QR200.8 billion by the end of 2024 — a strong testament to the bank's sustained growth trajectory.
QIB's total income grew by 9.4 percent to QR11.7 billion, driven by robust financing and investment activities, while customer deposits rose 3.4 percent to QR125 billion. The bank's cost-to-income ratio of 17 percent remains the lowest among Qatari banks, reflecting strict cost discipline and operational effic iency.
Asset quality remains strong, with a non-performing financing assets ratio of 1.86% and a coverage ratio of 95 percent.
QIB's financial strength continues to be recognized by international rating agencies. In 2024, Fitch Ratings affirmed QIB's rating at 'A' with a stable outlook, Moody's affirmed the bank's long-term depositratings at 'A1' with a stable outlook, and Capital Intelligence Ratings affirmed the bank's long-term rating at 'AA-' with a stable outlook.
Over the last three years, QIB introduced several first-to-market innovations that have simplified banking for customers. Key milestones include real-time digital onboarding for new customers, and instant personal financing through the Mobile App, which is now offering over 300 features.
The bank has introduced new innovations beyond banking including the QIB Marketplace providing a diverse range of products and including a section for local SMEs to display and sell products. QIB has also introduced the first Auto Marketplace in Qatar, also within its mobile app, enabling customers to browse, book a test drive, select and finance vehicles online.
Furthermore, QIB consistently emphasises its commitment to environmental responsibility through tangible actions. In a recent stride towards sustainability, the bank launched an eco-friendly credit card crafted from recycled materials, in addition to publishing a sustainability report every year. Embracing a comprehensive approach, QIB actively fosters a culture of sustainability within its workforce and board of directors through extensive training programmes.
Commenting on the awards, QIB Group CEO Bassel Gamal said, 'We are pleased and honoured to be recognised by The Asian Banker. This recognition reflects the strength of our strategy and the commitment to delivering the best to our customers and shareholders. These awards are a testament to the hard work and dedication of all our employees, the continuous support of our board of directors and our customers' trust.
'Over the past three years, we've focused on digital innovation, operational excellence, and building a more inclusive, sustainable bank. We will continue to support Qatar's economic development and advance our efforts in line with Qatar National Vision 2030.'
The Asian Banker Leadership Achievement Awards are held every three years and recognize outstanding leadership by CEOs and boards in the financial industry. This award affirms QIB's continued leadership in shaping the future of Islamic banking in Qatar and across the region.
