(MENAFN- Gulf Times) Qatar Islamic Bank (QIB), Qatar's leading Shariah-principled lender, has been named ‘Best Islamic Financial Institution in Qatar and the Gulf Cooperation Council (GCC)' by the US-based Global Finance magazine for 2017.
These awards recognise the 'impressive progress QIB has made in establishing itself as a leading banking institution in the GCC while cementing its leadership in Qatar, its home market.
The Global Finance magazine, headquartered in New York, is a reputable source for developments in the financial industry. Focusing on global and emerging markets, every year it releases a list of the best Islamic finance institutions in the world.
To select the winners, the editorial team of Global Finance confers with industry experts, assesses financial performance metrics, and factors in additional criteria such as a bank's reputation and customers satisfaction.
'Our commitment to meet our shareholders' and customers' expectations is what drives our efforts to continuously offer tailor-made Shariah-compliant products and services and high quality service to all our customer segments — individuals, government entities, large corporates and small and medium enterprises, according to Bassel Gamal, group chief executive of QIB.
QIB has demonstrated steady financial growth for the past four years and has been setting a benchmark for Islamic banks in the region with it embracing cutting-edge banking technologies and its customer-centric approach to both product offering and the overall banking experience offered through its renovated branch network and constantly developing digital channels.
QIB's 2016 financial results showed more than 10% rise year-on-year in net profit to QR2.16bn. Total assets have increased by 10% to QR139.8bn, driven by a robust growth in the financing activities that have now reached QR98.2bn.
Total income was QR5.49bn in 2016, registering a 22% annual growth, reflecting a healthy growth in core operating activities.
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