QIB named ‘Most Efficient Bank in the Middle East and Africa in 2021’

QIB named ‘Most Efficient Bank in the Middle East and Africa in 2021’

Qatar Islamic Bank (QIB) was ranked the ‘Most Efficient Bank in the Middle East and Africa’, emerging first among the largest banks in the Asian Banker Middle East and Africa Ranking in 2021.

The Middle East and Africa (MEA 200) 2021 is an evaluation of the 200 largest commercial banks and financial holding companies in the region. The ranking is based on the 2020 cost-to-income ratio, which stood at 20.1%, while QIB has further improved its efficiency with a cost-to-income ratio of 18.1% by the end of 2021.

These efficiency ratios are supported by QIB’s wide digital transformation programme, which has successfully led to both a significant increase in sales and revenues, as well as to operational efficiencies across the different departments of the bank.

QIB Group CEO Bassel Gamal said, “This success is the result of the wide adoption of our digital offerings by our customers and a true testament to our continued efforts in driving innovation and improving our customers’ experience. When we started our business and technological transformation a few years back, we have set a high ambition to ourselves of becoming one of the most customer-centric, efficient banks in Qatar and the region.

“We are really