Doha, Qatar: Moody’s Investors Service has reaffirmed QIIB’s A2/Prime-1 credit rating with a stable outlook, recognising the Bank’s sustained strong performance.
In its recent report on the Bank’s rating, Moody’s stated that the affirmation was driven by QIIB’s strong profitability at the end of 2024, along with an exceptional operational efficiency ratio of 21.4%—a reflection of prudent resource management and effective return generation.
Moody’s also noted QIIB’s solid financial standing and flexible funding profile, supported by strong capital levels and robust liquidity. The Bank’s position is further reinforced by the high potential of government support, if needed.
Moody’s noted the bank’s baa3 BCA affirmation also takes into account the bank’s sound capital buffers, with a tangible common equity (TCE) to risk-weighted assets at 14.8% (as of December 2024) and high liquidity buffers with liquid assets to tangible banking assets at 28% as of December 2024.
It also captures QIIB’s resilient funding profile, characterised by a retail focused franchise. In its assessment, Moody’s confirmed that the Bank’s stable long-term outlook reflects a balance between expectations of continued profitability and strong capital and liquidity levels, against potential pressure on asset quality due to a non-performing financing ratio of 3.0% at the end of 2024.
Commenting on Moody’s affirmation of the Bank’s rating, Dr. Abdulbasit Ahmed Al-Shaibei, CEO of QIIB, stated: “We are pleased to maintain our strong credit ratings, which reflect the strength of our financial position and the effectiveness of our strategy that carefully balances measured growth and high operational efficiency. Moody’s reaffirmation of our rating highlights the confidence in our ability to deliver stable profitability and continue providing banking services with a high level of efficiency”.
“We value Moody’s recognition of our flexible funding profile and strong position in the retail banking sector, which enhance our ability to adapt to shifts in both local and global markets. We also continue to benefit from the successful digital transformation we have achieved to boost our efficiency and further elevate customer satisfaction”.
Dr. Al-Shaibei noted, “QIIB continuously works to diversify and enhance the quality of its financing portfolio in line with best practices in risk management. We are committed to driving sustainable growth and staying aligned with the evolving dynamics of financial markets”.
