QIB Press
Digital Desk
Aug 19, 2013 | 8 Minutes
Qatar Islamic Bank (QIB) – Qatar’s leading Islamic bank – has jumped 35 positions in The Banker magazine’s latest ranking of the World’s Top 1,000 banks.
QIB now stands at 316, compared to its previous position of 351, and is also ranked as the best Islamic bank in Qatar, and the third bank in the country’s banking sector.
‘The Banker’s Top 1000 World Banks’ ranking tracks the largest bank holding companies based on Tier 1 capital* as at the end of 2012. Foreign-owned banks are not tracked in the main ranking, though foreign owned subsidiaries are included in the country break down if their Tier 1 would be large enough for them to feature in the Top 1000.
These positions reflect the excellent financial results of QIB over the past year, during which international credit institutions such as Fitch, Capital Intelligence and Standard & Poor’s gave QIB an ‘A’ rating.
Among the Islamic banks in the MENA region, QIB was ranked in 6th position, the 7th highest mover over the past year, and the highest mover in Qatar – with a 21.54% change to its Tier 1 capital, representing USD 2,550m.
The progress of the Bank in this global arrangement between banks confirms that QIB are moving steadily forwards in strengthening their presence as an effective banking force in Qatar and abroad, thanks to their successful banking and investment strategy.
*Note to Editors: Tier 1 capital includes loss absorbing capital, that is common stock, disclosed reserves, retained earnings (excluding current year results) and minority interests in the equity of subsidiaries that are less than wholly owned. It excludes cumulative preference shares, hidden reserves and revaluations reserves, subordinated debt and long term debt which are defined as Tier 2 capital.