(MENAFN - Gulf Times) QIB has won six key awards, including 'Best Islamic Financial Institution in Qatar and the Middle East for 2017 at the 'World's Best Islamic Financial Institutions 2018 by Global Finance magazine.
QIB was recognised by Global Finance after detailed assessments from international bankers, corporate finance executives, financial analysts and consultants.
QIB winning six awards from Global Finance 'reflects the bank's successful strategy, which extends over its different service segments.
Global Finance considers a wide range of factors before selecting a winner for each if its categories.
QIB was evaluated based on its quantitative results for the fiscal year 2017, which included growth in assets, profitability, strategic relationships, new business development and innovation in products and services.
Global Finance's decision also involved a careful assessment of qualitative criteria like the bank's reputation, customer satisfaction, and the opinions of analysts and key stakeholders involved in the industry.
After the extensive evaluation process, Global Finance found QIB entitled to the following six awards ‘Best Islamic Financial Institution in the Middle East', ‘Best Islamic Financial Institution in Qatar', ‘Best Islamic Financial Institution for Large Corporate', ‘Best Islamic Project Finance Provider', ‘Best Real Estate Deal of the Year' and ‘Best Sukuk Deal of the Year'.
'These awards recognise the impressive progress QIB has made in establishing itself as a leading banking institution in the Middle East while cementing its leadership position in Qatar, its home market, QIB said.
On the awards, QIB Group CEO Bassel Gamal said, 'Being recognised as the Best Islamic Financial Institution in Qatar and the Middle East by Global Finance is a strong testament to the role QIB has in shaping the financial and banking map not only locally, but regionally.
He said, 'It is our privilege to have been a partner in the progress and development of Qatar for over 35 years, and we remain fully committed in our endeavour to support the Qatar National Vision 2030.
This continual success of our Bank is a result of the support of our Board of Directors, the focused implementation of our business strategy, and the hard work of our employees.
'QIB's win from Global Finance this year covered a diverse range of categories, which reflects QIB's continuous efforts to always create innovative and comprehensive suite of Shariah-compliant products and offer convenient services in favour of its corporate and individual customers. concluded Bassel Gamal. QIB has demonstrated steady financial growth over the past five years and has been setting a benchmark for Islamic banks in the region with its embrace of cutting-edge banking technologies, and its customer-centric approach to both its product offering and the overall banking experience; offered across its renovated branch network and constantly developing digital channels.
QIB earned a net profit of QR2.4bn in 2017 compared with QR2.15bn in 2016, which represents a growth of 11.6%.
The bank's total assets have gone up 7.5% to QR150bn in 2017.