Sheikh Dr. Khalid bin Thani Al Thani
His Excellency Sheikh Dr. Khalid bin Thani bin Abdullah Al Thani, Chairman and Managing Director of QIIB, announced the bank’s business results for the first half of 2021 ending on June 30, 2021. The announcement of the results came after a meeting of the QIIB Board of Directors chaired by His Excellency Sheikh Dr. Khalid bin Thani to discuss The results of the first half of this year, which showed that the bank continued to achieve significant growth in various budget items and was able to strengthen its position as one of the leading banks in the country. The results of the first half showed that the bank achieved a net profit of 543.9 million riyals, a growth rate of 6.1% compared to In the corresponding period of 2020, the earnings per share were 0.36 Qatari riyals.
His Excellency Sheikh Dr. Khalid bin Thani indicated that “the bank’s results for the period ending on 30/6/2021 confirm that QIIB is proceeding to implement its plans in an appropriate manner, relying on the strength of the Qatari economy, which enjoys the highest levels of solvency and credit rating regionally and internationally, and achieves all growth factors. And stability for the banking sector and various business sectors, thanks to the support and patronage of His Highness Sheikh Tamim bin Hamad Al Thani, the Emir of the country.”
He added: “The most important thing that can be deduced from these distinguished results achieved by QIIB is the ability to face unexpected challenges and risks related to the repercussions of the spread of the Corona pandemic (Covid-19), as the bank was able to turn challenges into opportunities, which was manifested in tangible results and growth figures. Good and a significant improvement in the operating environment.”
His Excellency pointed out that “the review of the bank’s budget items at the end of the first half of this year clearly indicates that most of the goals set by the plans have been achieved, although the ambition is greater, and the bank has benefited from its strategy that focuses on local opportunities, as the performance of national business sectors and government plans The measures that were implemented to advance the national economy in its various fields pushed the indicators of institutions and companies of all sizes into the green zone, and gave them a strong boost that positively reflected on the investment climate as a whole.
His Excellency Sheikh Dr. Khalid bin Thani explained that the encouraging indicators and positive results achieved by the bank during the first half of 2021 gain additional importance with the high pace of competition in the banking market, a competition that we welcome and consider it one of the most important factors in improving quality, promoting innovation and providing more solutions. appropriate banking for different customer segments, and QIIB is pleased to respond appropriately to the requirements of competition, which is reflected in the fact that our customer base has steadily increased.”
Promotion of digital channels
His Excellency Sheikh Dr. Khalid bin Thani particularly praised QIIB’s achievements during the last period in the field of digital transformation, because it is a milestone in improving the bank’s performance at various levels, and it also contributes effectively to enhancing operational efficiency and keeping pace with the most important developments in banking technology globally.” He stressed, “The bank will continue its policy of enhancing digital channels and providing the necessary technological infrastructure and resources in order to achieve all the goals of QIIB’s ambitious plans in this field.”
His Excellency the Chairman and Managing Director noted that the outstanding performance achieved by QIIB prompted the international credit rating agencies to acknowledge the strength of its financial position and the solidity of its various indicators, as the bank maintained high credit ratings at A2 from Moody’s with a stable outlook and A grade from Fitch with A stable outlook and a grade of A from Capital Intelligence Agency with a stable outlook, and all these ratings confirm the fact that the bank has reached the prestigious position locally, regionally and internationally.
His Excellency thanked the executive management and all QIIB employees for their great efforts during the past period, and called on everyone to continue perseverance and work in a team spirit to achieve the targeted numbers of plans and strategies set.
For his part, Mr. Abdul Basit Ahmed Al Shaibi, CEO of QIIB, explained the details of the bank’s financial results at the end of the first half of 2021, stating that “the bank’s total revenues reached 1,264 million riyals at the end of the first half, which represents a growth rate of 4.3% compared to the same period of the previous year, while it increased Total assets reached 62.5 billion riyals, compared to 59.3 billion riyals at the end of the first half of 2020, with a growth rate of 5.3%. As for the balances of financing assets, they reached 40.6 billion riyals at the end of the first half, compared to 35.0 billion riyals at the end of the corresponding period of last year, which constitutes a growth rate. It amounted to 16.0%, and customer deposit balances increased by 11.6% to reach 38.8 billion riyals.
The CEO indicated in particular that QIIB was able to significantly raise operational efficiency during the first half of 2021, which contributed to the continued improvement in the (cost to return) ratio to reach 18.3% compared to 21.4% at the end of the corresponding period last year, which confirms the success of QIIB in its plans to face the challenges that imposed themselves on the banking sector during the last period.” Mr. Al-Shaibi touched on the quality of the financing assets portfolio, and confirmed the continuation of improvement in it by reducing the non-performing debt ratio from 2.0% by the end of the first half of 2020 to 1.6% By the end of the first half of 2021, this is a success that counts for the bank and confirms the efficacy of the policies it takes in this field.” He added: “The total equity at the end of the first half of this year amounted to 8.3 billion riyals, while Basel III capital adequacy at the end of the period recorded 17.
Strategic Objectives
The CEO of QIIB stressed that “the bank’s results in the first half of this year reflect the plans that have been accomplished, and the achievement of the objectives of the bank’s strategy, both near and far, by facing emerging challenges and various market factors, which we were able, thankfully, to adapt to them and achieve the targeted growth numbers.” He continued: “
Mr. Al-Shaibi stated, “The bank launched, during the first half of this year, a series of innovative products and services that were highly appreciated by customers and the business sector in general, including those designed for companies such as corporate and business cards, or for individuals as a mobile banking service from QIIB, as well as About many other services, including for the first time in Qatar, as a video banking service, which reflects our interest in innovation and benefiting from the latest technology solutions in the banking sector.”
Best Islamic Digital Bank
He said: “In view of the tangible efforts made by the bank, especially in the field of digital transformation, QIIB has received Arab and international appreciation, as the “Union of Arab Banks” awarded the bank the award for the best digital bank in Qatar for this year in recognition of its success in achieving tangible progress in the field of transformation. It also successfully managed to face the emergency conditions related to the spread of the Covid-19 virus, as the bank provided digital solutions to its customers that enabled them to obtain banking services easily and safely. In turn, the American International Islamic magazine “World Economic” awarded the award for the best Islamic digital bank in the State of Qatar This year, in recognition of the bank’s superiority and the great leap it has achieved in the field of services through its various alternative channels.” As for social responsibility, Mr. Al-Shaibi explained:
