S&P affirms QIB’s credit rating - The Peninsula Qatar

S&P affirms QIB’s credit rating - The Peninsula Qatar:

"International credit rating agency, Standard & Poor’s (S&P) has affirmed Qatar Islamic Bank (QIB), Qatar’s leading Islamic Bank, the coveted ‘A-’ issuer credit rating. According to the report issued by S&P, the major contributing factors strengthening QIB’s rating include the Bank being the largest Islamic Bank in Qatar and second-largest player in the market, its sound financial performance, and its strong capitalisation. S&P, one of the top three international rating agencies, cited: “The rating reflect our views of the bank’s robust corporate banking franchise and favorable position as Qatar’s largest Islamic Bank. QIB’s capital is strong and supports the bank’s rating. QIB’s funding profile is now more balanced, since the bank replaced deposits from Gulf Cooperation Council (GCC) countries with core deposits from government and government-related entities in Qatar. QIB’s stable funding ratio reached 113.9% at year-end 2017. The bank’s liquidity is also adequate with around 7 percent of assets placed in liquid forms and another 20 percent placed mostly in Qatari government sukuk”."



'via Blog this'