QIB’s Issuer Credit Rating Affirmed by S&P with Stable Outlook

Qatar Islamic Bank’s (QIB) issuer credit rating has been affirmed at A-/A-2, with a stable outlook by international credit rating agency Standard & Poor’s (S&P). This is three grades higher than QIB’s standalone credit rating, as S&P states that QIB can receive government support if required.

S&P added that QIB’s funding profile is dominated by key customer deposits and the bank has been actively tapping into Sukuk markets in recent years for the generation of funds. The rating agency expects these deposits to be stable moving forward as they are bound by strong long term relationships with these customers.

QIB’s Chief Executive Officer,...