The Banking Executive Magazine - January 2023 Issue

QIB Bank reached QAR 23.3 Billion, an increase of 12.2% compared to QAR 20.7 Billion as at 31 December 2021. As of December 2022 the Total Capital adequacy of the Bank under Basel III guidelines is 19.9%, well above the regulatory minimum requirements prescribed by Qatar Central Bank and Basel Committee. "2022 was a historic year for the State of Qatar," said the QIB Board of Directors commenting on the end-of- year financial results. “The FIFA World Cup Qatar 2022, the world's largest sporting event, provided an opportunity to introduce our culture and traditions to the rest of the world. We are extremely proud that we were able to commemorate this his- toric occasion with our customers, employees, and the larger commu- nity, as well as visitors from all over the world." "QIB has marked yet another remark- able year despite the economic un- certainty across the globe. In 2022, QIB achieved several milestones, in- cluding the introduction of new, in- novative products and services for individuals and businesses, as well as growth in its banking operations. QIB was able to maintain and strengthen its leadership in the Qatari banking sector, remaining the largest Islamic bank and the largest private bank in the country." "The Bank's performance in terms of growth, portfolio, and profitability is a result of the focused execution of our business strategy over the last few years," the Board added. “Our ongoing efforts to promote a cashless ecosystem and enable digital access to financial services have proven in- valuable in achieving service excel- lence and allowing us to respond to our customers' needs in a timely and efficient manner." The Board of Directors also empha- sized the bank's significant progress toward sustainability, both in terms of maintaining a strong financial po- sition and further integrating ESG into the bank's strategies and opera- tions. Having the Qatar National Vi- sion 2030 as a beacon of our journey and aligning with the United Nations (UN) Sustainable Development Goals (SDGs), QIB is progressing to- wards a broader and deeper integra- tion of the ESG criteria across all layers of our organization as per the bank’s long-term sustainability strat- egy. "This year's financial results confirm the Bank's strong foundation and re- flect the firmness, resilience and sta- bility of the Qatari banking sector and the national economy. Our sus- tainable and stable business model has been recognized by all interna- tional rating agencies, resulting in numerous recognitions and awards from the most credible international financial publications". QIB Board of directors concluded the meeting by expressing their pro- found gratitude to QIB’s shareholders and customers for their trust in the Bank, and their appreciation to all Bank employees for their dedication and ongoing efforts to achieve posi- tive results and continuous improve- ments. In November 2022 Moody’s In- vestors Service, (“Moody’s”) affirmed the Long-term deposit ratings at “A1”. In September 2022, Fitch Rat- ings affirmed the Bank’s credit rating at ‘A-’. In March 2022, Capital Intel- ligence Ratings (CI) has affirmed the Bank’s Long-term Currency Rating (LTCR) of ‘A+’. QIB’s business growth, dedication to innovation and customer excellence has earned the bank over 40 presti- gious awards and global recognition from acclaimed publications. QIB received “Best Bank”, “Best Bank for Digital Solutions”, and “Best Bank for Islamic Finance in Qatar” from the Euromoney Magazine as a testimony of its exceptional perform- ance. Furthermore, Euromoney has recognized QIB across four cate- gories in the Euromoney Market Leaders rankings, reaffirming its lead- ing position in the financial sector in the country. QIB was ranked as a leader in “Digital Solutions”, “Corpo- rate Banking” and “Islamic Finance” and was highly regarded in “Corpo- rate Social Responsibility (CSR)”. QIB was named “Best Performing Bank in Qatar” in the Top 100 Arab Banks Rankings for 2022 by the Banker Magazine reaffirming its po- sition as one of the leading banks in the Arab world. The Banker also rec- ognized QIB’s continuous growth and solid performance with the “Best Islamic Bank of the Year in the Mid- dle East, Qatar, and the UK” awards. Furthermore, QIB received Straight Through Processing (STP) Excellence Award from Citibank and was hon- ored by Ministry of Labour for its Qatarization efforts. QIB received several awards from the Digital Banker, and three awards from the Asset Triple A Islamic Finance Awards. The Bank also received four prestigious awards from Global Fi- nance and four from MEED MENA Banking Excellence Awards. At this year’s Forbes Top 100 Listed Companies in the Middle East, QIB was ranked 25th in the Middle East and 3rd in Qatar, while Mr. Bassel Gamal, Group CEO of QIB was amongst the Top 100 CEOs in the Middle East 2022 and received the Asian Banker “CEO Leadership Achievement for Qatar” award for his excellent leadership. Additionally, QIB received two awards from the Asian Banker mag- azine, as well as two more titles from the Asset Triple AMagazine for its ex- ceptional digital services. EMEA Fi- nance awarded QIB with two titles Best Islamic Bank in Qatar and Best Product Launch in the Middle East. Islamic Finance News recognized QIB as Best Islamic Bank in Qatar for the third consecutive year. ISSUE 169 JANUARY 2023 the BANKING EXECUTIVE 27