The Asian Banker recognises QIB as ‘most efficient bank’ worldwide with 17.4% cost-to-income ratio

The Asian Banker recognises QIB as ‘most efficient bank’ worldwide with 17.4% cost-to-income ratio

QIB’s exceptional performance highlights its leadership in the Qatari banking sector and positions it as the world’s most efficient bank

Qatar Islamic Bank (QIB) has emerged as the most efficient bank in the world with an outstanding 17.4% average cost-to-income ratio, according to The Asian Banker Global 1000 World’s Largest and Strongest Banks Ranking 2023 for banks with total assets exceeding $20bn, by its research arm TABInsights.QIB’s exceptional performance highlights its leadership in the Qatari banking sector and positions it as the world’s most efficient bank.Qatari banks, driven by QIB’s lowest cost-to-income ratio, have surpassed their global counterparts by achieving an impressive average cost-to-income ratio of 21.5%. This outstanding efficiency distinguishes the Qatar banking sector as the most efficient globally and positions QIB at the forefront, solidifying its status as the world leader in banking efficiency.According to The Asian Banker, the global banking landscape witnessed an average cost-to-income ratio of 51.8% among the world’s 1,000 largest banks in 2022, with Qatari banks, including QIB, leading the charge with the lowest cost-to-income ratio globally. The Middle East showcased the lowest asset-weighted average cost-to-income ratio at 37%, underscoring determined commitment to efficiency and cost reduction across the region.QIB’s remarkable performance is