Fitch Affirms Qatar International Islamic Bank’s Strong Rating at ‘A’; Stable Outlook

Fitch Ratings (Fitch) has affirmed Qatar International Islamic Bank’s (QIIB) strong rating at ‘A’, with a Stable Outlook, according to its full rating report of QIIB, as reported by media.

The affirmation is based on QIIB’s 3Q 2020 financial statements, which indicate that the bank has maintained a robust financial position and responded in a suitable manner to the challenges faced with Qatar’s economy across all sectors.

According to the report, Fitch notes several factors that support the rating, including the high probability of support from Qatari authorities, the strong ability of Qatar to support domestic banks, as well as QIIB’s strong position in the local financial sector and its creditworthiness.

Fitch added tha...