Fitch Affirms Qatar Islamic Bank at ‘A’; Outlook Stable

Doha: Global Credit rating agency "Fitch Ratings" has affirmed Qatar Islamic Bank (Q.P.S.C)'s (QIB) Long-Term Issuer Default Rating (IDR) at 'A' with a Stable Outlook. QIB's Viability Rating (VR) reflects the bank's high exposure to Qatar's operating environment, strong company profile, sound asset quality, and solid profitability. The VR also reflects QIB's adequate capitalisation and stable funding and liquidity, according to Fitch. Fitch expects the bank's asset quality metrics to remain stable in 2024-2025. Qatar Islamic Bank was established in 1982, with a capital of about QR 2.363 billion. Source: Qatar News Agency