Qatar Islamic Bank (QIB) announced that Capital Intelligence Ratings (CI Ratings), the international credit rating agency, has affirmed the bank's financial strength rating (FSR) at "A" with a stable outlook.
The bank's long-term foreign currency rating (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, the bank said in a statement.
"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 QIB Chief Executive Officer Bassel Gamal. "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." "QIB continues to consolidate its position in the Qatari Banking sector and record steady, healthy growth across a broad range of key performance indicators," Gamal added. "In keeping with the bank's long-term growth strategy, QIB is pursuing new means for building its customers' wealth while adhering to the highest ethical standards."

Source :QNA