QIB continues to expand business meeting customer needs

Doha: In 2022, QIB continued to expand its business by meeting the evolving needs of its customers. By increasing Net Profits and Total Assets, QIB became the third largest institution in the Qatar Stock Exchange (QSE) and the second largest institution in the financial sector. As a result, the Bank maintained its leadership in the Qatari banking sector, and continued to be the largest Islamic bank and largest private bank in Qatar.

Despite a challenging macroeconomic backdrop headlined by rising geopolitical tensions, higher interest rates pressures and high inflation, QIB is operating from a position of strength underpinned by a healthy balance sheet and continued investments in new technologies to improve the customer experience. We remain focused on driving organic growth in Qatar while naturally examining new areas of growth to be pursued only if they meet the bank’s strategic and financial requirements.

We accelerated our vision to transform the Bank for the future.  QIB continued to invest in people and technology in order to provide more value to our customers. The award-winning QIB Mobile App has now become the primary channel for our customers as it offers instant services, convenience and maximum security.

In 2022, We continued to expand and introduce new innovative products and services to improve our customers’ experience. Many of our innovative digital products and services are introduced for the first time in Qatar. Key innovations, the first of their kind in Qatar, launched in 2022 include: Digital Credit Card which enables customers to perform online purchases securely, in addition to Growing Deposit and Mobile Banking promotions, in collaboration with Visa.

In terms of participation in the country’s activities, we have invested in a variety of economic and social activities, such as introducing a low profit rate offer for Green Car Finance, organizing a beach cleaning initiative, participating in the “One Million Trees” initiative and participating in the Environmental Sustainability Program launched by the Ministry of Environment, in addition to effective participation in activities during the World Cup.

QIB has been investing in its people, our Learning & Development team has delivered over 36,000 hours of training, with a focus on product knowledge and information security. Furthermore, all QIB employees had access to a comprehensive portfolio of mandatory learning modules that can help them advance to higher positions.

As a testament to its exceptional performance, QIB has received over 40 prestigious awards and global recognition from acclaimed publications including “Best Bank”, “Best Bank for Digital Solutions”, and “Best Bank for Islamic Finance in Qatar” from the Euromoney Magazine. In addition, QIB was named a leader in “Digital Solutions”, “Corporate Banking” and “Islamic Finance” as well as a number of other awards from reputable publications.

Looking back at the 2022 fiscal year, QIB had achieved positive progress, cementing its position as one of the largest Islamic banks both locally and internationally.