DOHA: Fitch Ratings has affirmed QIIB’s rating at ‘A+’ with a stable outlook, confirming the bank’s strong financial position.
The role of the Qatari government in supporting the stability of banks is a major factor in confirming the good ratings of the Qatari banking sector. The decision to affirm QIIB’s rating is a reflection of the bank’s sound portfolio and strong operational efficiency”, the ratings agency noted.
QIIB’s CEO Abdulbasit Ahmed Al-Shaibei (pictured), said: “It’s certainly a good news, not only for QIIB but for the country’s entire banking sector. The ratings agency’s decision reaffirms that Qatar’s banking sector is maintaining its stability despite the falling oil prices.”
QIIB has total faith in the country’s economy and the policies being pursued by the leadership. The main driver behind QIIB’s growth is its continued focus on local activities with long term strategy, he added.
The Peninsula
