Latest news with #QatarIslamicBank
Zawya
20 hours ago
- Business
- Zawya
IPTs out for Qatar Islamic Bank's USD 5-year sukuk
Initial price thoughts (IPTs) for Qatar Islamic Bank's (QIB) USD-denominated Reg S 5-year benchmark size sukuk offering are in the US Treasuries plus 115 basis points (bp)–120bp area. The profit rate is fixed, payable semi-annually in arrear. The sukuk will be listed on London Stock Exchange's International Securities Market. The senior unsecured sukuk offering will be issued by QIB Sukuk Ltd. under the $5 billion trust certificate issuance programme subject to market conditions. Abu Dhabi Islamic Bank, Bank ABC, Dubai Islamic Bank, Dukhan Bank, Emirates NBD Capital, HSBC, KFH Capital, Mashreq, QNB Capital, QInvest, SMBC, Standard Chartered Bank and The Islamic Corporation for the Development of the Private Sector are mandated as joint lead managers. (Writing by Brinda Darasha; editing by Seban Scaria)
Zawya
a day ago
- Business
- Zawya
QIB Named Islamic Bank of the Year in the Middle East by The Banker
Doha, Qatar: Qatar Islamic Bank (QIB), Qatar's leading digital bank, has been named Islamic Bank of the Year in the Middle East by The Banker (Financial Times Group) at The Islamic Banking Awards 2025. The recognition reflects QIB's leadership in Islamic finance, its continued investment in innovation, and its focus on delivering secure, Shari'a-compliant financial solutions across the region. The award comes as QIB continues to strengthen its position as one of the most efficient and digitally advanced Islamic banks in the region. In the first quarter of 2025, QIB reported a net profit of QAR 985 million, a 3.1% increase over the same period last year. Total assets grew to QAR 212 billion, while the Bank maintained a cost-to-income ratio of 16.6%, the best in the Qatari banking sector. QIB also continued to demonstrate prudent risk management, with a non-performing financing assets ratio of 1.76% and a financing-to-deposit ratio well within regulatory limits. QIB's financial strength continues to be recognized by international rating agencies. In 2024, Fitch Ratings affirmed QIB's rating at 'A' with a stable outlook, Moody's affirmed the Bank's long-term deposit ratings at 'A1' with a stable outlook, and Capital Intelligence Ratings affirmed the Bank's long-term rating at 'AA-' with a stable outlook. Over the past years, the Bank introduced several first-to-market innovations that have simplified banking for customers. Key milestones include real-time digital onboarding for new customers, and instant personal financing through the QIB Mobile App, which is now offering over 300 features and a refined user experience. The Bank has introduced new innovations beyond banking including the QIB Marketplace providing a diverse range of products and including a section for local SMEs to display & sell products. QIB has also introduced the first Auto Marketplace in Qatar, also within its mobile app, enabling customers to browse, book a test drive, select and finance vehicles online. With a focus on digital transformation, financial inclusion, and sustainable growth, the Bank continues to drive innovation, offer modern banking solutions, and support Qatar National Vision 2030 for a dynamic, diversified economy. Furthermore, QIB has been continuously outperforming the market and delivering continuous value to its shareholders. Commenting on the recognition, Mr. Bassel Gamal, QIB Group CEO, said: 'We are pleased to be named Islamic Bank of the Year in the Middle East by The Banker. On this occasion, I would like to extend my appreciation to QIB's Board of Directors, the entire QIB team and our customers for their trust and support. This award reflects the success of our strategy and our commitment to innovation. We continue to focus on delivering responsible, Shari'a-compliant financial services that create value for our customers, our shareholders and support Qatar's economic development.' The Banker Islamic Banking Awards are among the industry's most respected recognitions, celebrating institutions that deliver innovation, performance, and excellence in Shari'a-compliant financial services.
Qatar Tribune
23-05-2025
- Business
- Qatar Tribune
QSE bull run continues as stocks gain for 6th week in row
Satyendra Pathak Doha The Qatar Stock Exchange (QSE) posted a robust performance this week, with the benchmark QSE Index climbing 199.67 points, or 1.9 percent, to close at 10,774.29 points. The market rally for the sixth consecutive week was supported by gains in key blue-chip stocks and a notable rise in trading activity, reflecting renewed investor confidence. Market capitalisation rose in tandem, increasing by 1.9 percent to reach QR636.5 billion from QR624.6 billion in the previous trading week. Of the 53 companies traded, a significant majority—41 stocks—registered gains, while only 12 ended in the red. Qatar German for Medical Devices (QGMD) emerged as the week's top gainer, soaring 13.2 percent. On the other end of the spectrum, Vodafone Qatar was the worst performing stock, shedding 4.9 percent over the week. Leading the rally were heavyweights Qatar Islamic Bank, Industries Qatar and QNB Group. Qatar Islamic Bank made the largest contribution to the index, adding 76.54 points, followed by Industries Qatar and QNB Group, which contributed 27.25 points and 23.60 points respectively. Trading activity picked up considerably during the week. The total traded value rose by 36.3 percent to QR3,194.1 million from QR2,343.7 million in the prior week. Estithmar Holding was the top value traded stock, with transactions totaling QR247.9 million. In terms of volume, the market saw a 35.9 percent jump, with 1,475.4 million shares changing hands compared to 1,085.3 million shares the previous week. The number of transactions also surged by 37.6 percent, reaching 132,263. Mazaya Real Estate Development topped the volume chart, accounting for 139 million shares. Foreign institutional investors continued to show confidence in Qatari equities, registering net buying of QR184.1 million, though slightly down from QR199.3 million the week before. Meanwhile, Qatari institutions remained on the sell side with net selling of QR63.5 million. Foreign retail investors turned bullish with net buying of QR15.4 million, reversing the prior week's net selling of QR36.8 million. In contrast, Qatari retail investors continued to offload equities, recording net selling of QR136.0 million compared to QR109.4 million in the previous week. Despite the strong weekly performance, global foreign institutions remain net sellers of Qatari equities year-to-date by $149.1 million. Similarly, GCC institutions are net short by $35.9 million YTD. The market's upward trajectory this week, backed by institutional interest and stronger trading volumes, paints a cautiously optimistic picture. However, continued foreign outflows on a year-to-date basis suggest that investor sentiment could remain sensitive to global macroeconomic developments and regional dynamics.
Reuters
19-05-2025
- Business
- Reuters
Dubai's main share index hits fresh record high
May 19 (Reuters) - Most stock markets in the Gulf settled higher on Monday including Dubai's main share index (.DFMGI), opens new tab, which rose 0.7% to a record high for a second consecutive session. The index had scaled a record on Friday, boosted by a slew of business agreements between the United Arab Emirates and the U.S. President Donald Trump on his last stop of a Gulf tour said that the two countries had agreed on a path for the Gulf nation to buy advanced semiconductors used for artificial intelligence technologies from U.S. companies, a major win for Abu Dhabi's efforts to become a global AI hub. Abu Dhabi's benchmark index (.FTFADGI), opens new tab closed up 0.12% on Monday. On Dubai's main index, lender Emirates NBD Bank ( opens new tab, was the top gainer, closing up 3.5%. Qatar's benchmark stock index (.QSI), opens new tab also finished the day 0.7% higher, with Qatar Islamic Bank ( opens new tab settling up 1.6%. Meanwhile, oil prices fell on Monday, pressured by Moody's downgrade of the U.S. sovereign credit rating and disappointing data from China, where official figures revealed a slowdown in both industrial output and retail sales. Saudi Arabia's benchmark stock index (.TASI), opens new tab closed down 0.3%. Electrical components and equipment maker Middle East Specialized Cables Company ( opens new tab was the top loser, down 5.8%. Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab fell 1.13%.
Zawya
19-05-2025
- Business
- Zawya
Mideast Stocks: Gulf bourses end mixed as investors await new impetus
Stock markets in the Gulf ended mixed on Sunday, with investors seeking new catalysts as optimism over the U.S.-China trade agreement started to fade. Saudi Arabia's benchmark index fell 0.4%, hit by a 0.9% fall in Al Rajhi Bank and a 1% decrease in the country's biggest lender Saudi National Bank. Oil - a driver for the Gulf's financial markets - settled higher on Friday, notching a second straight week of gains on easing U.S.-China trade tensions, though prices were held back by expectations of higher supply from Iran and OPEC+. The Qatari index gained 0.6%, led by a 2.1% rise in Qatar Islamic Bank. Outside the Gulf, Egypt's blue-chip index retreated 0.7%, weighed down by a 2.4% slide in tobacco monopoly Eastern Company. SAUDI ARABIA lost 0.4% to 11,439 QATAR gained 0.6% to 10,575 EGYPT down 0.7% to 31,714 BAHRAIN finished flat at 1,921 OMAN added 0.6% to 4,436 KUWAIT dropped 0.3% to 8,735 (Reporting by Ateeq Shariff in Bengaluru; Editing by Helen Popper) Reuters
