Capital Intelligence reaffirms QIB’s Long Term Rating at A+ with stable outlook – The Peninsula

Capital Intelligence reaffirms QIB’s Long Term Rating at A+ with stable outlook – The Peninsula

Doha: Qatar Islamic Bank (QIB) has reconfirmed its ongoing positive rating with Capital Intelligence (CI) Ratings yesterday announcing the Bank’s Long-Term and Short-Term Ratings of ‘A+’, and ‘A1’ respectively, with a stable outlook.

Capital Intelligence’s Credit Rating Report reaffirmed QIB’s strong franchise and market position, with 49 percent of total assets of listed Islamic banks in Qatar. QIB continues to be the largest Islamic bank in Qatar, with good liquidity and funding profile, and robust capitalization, in addition to having solid and stable asset quality with strong loss absorption capacity, and strong and consistent profitability, despite the drop in oil prices, and the economic impacts of the pandemic.

The report also stated that QIB continues to have robust capitalization in a well-capitalized Qatari banking system, in addition the non-performing financing (NPF) ratio remained moderate over the last seven years, and among the lowest of its peer group.

The report also said that QIB’s profitability is strong, and its earnings quality is good, with the Bank posting consistent results. CI added that QIB’s profitability was better than sector average, supported by the Bank’s broadly stable net financing margins (NFMs), which remained above average, and continued efficiency gains.

Based on the report, QIB has a good