Doha: Moody's Investors Service has reaffirmed QIIB's A2/Prime-1 credit rating with a stable outlook, recognizing the Bank's sustained strong performance.
According to Qatar News Agency, Moody's stated that the affirmation was driven by QIIB's strong profitability at the end of 2024, along with an exceptional operational efficiency ratio of 21.4%, a reflection of prudent resource management and effective return generation.
Moody's also emphasized QIIB's solid financial standing and flexible funding profile, supported by strong capital levels and robust liquidity. The Bank's position is further reinforced by the high potential of government support, if needed.
In its assessment, Moody's confirmed that the Bank's stable long-term outlook reflects a balance between expectations of continued profitability and strong capital and liquidity levels, against potential pressure on asset quality due to a non-performing financing ratio of 3.0% at the end of 2024.
Commenting on the occasion, CEO of QIIB Dr. Abdulbasit Ahmed Al Shaibei stated: "We are pleased to maintain our strong credit ratings, which reflect the strength of our financial position and the effectiveness of our strategy that carefully balances measured growth and high operational efficiency."
"Moody's reaffirmation of our rating highlights the confidence in our ability to deliver stable profitability and continue providing banking services with a high level of efficiency," he added.
Dr. Al Shaibei stated: "We value Moody recognition of our flexible funding profile and strong position in the retail banking sector, which enhance our ability to adapt to shifts in both local and global markets. We also continue to benefit from the successful digital transformation we have achieved to boost our efficiency and further elevate customer satisfaction."
QIIB's CEO noted, "QIIB continuously works to diversify and enhance the quality of its financing portfolio in line with best practices in risk management. We are committed to driving sustainable growth and staying aligned with the evolving dynamics of financial markets."
He concluded: "We are confident that our strategy, guided by the vision of our Board of Directors and supported by our integration with Qatar's strong economy, which provides a stable environment for various business sectors, will continue to enable us to deliver outstanding performance and strengthen our position in the Islamic banking sector, both locally and regionally."