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Qatar Tribune
3 days ago
- Business
- Qatar Tribune
QIB named Islamic bank of the year in Middle East by The Banker
Tribune News Network Doha Qatar Islamic 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. 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.'
Zawya
3 days 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.
Zawya
22-05-2025
- Business
- Zawya
Baiduri Bank Opens Representative Office In Singapore
SINGAPORE - Media OutReach Newswire - 22 May 2025 - Baiduri Bank, Brunei Darussalam's largest conventional bank, proudly announces the opening of its first overseas representative office in Singapore. Located at Marina Bay Financial Centre (MBFC) Tower 2, this expansion marks a significant milestone in the Bank's 30-year journey in the financial sector. Since its establishment in 1994, Baiduri Bank has undergone a remarkable transformation—evolving from a home-grown bank into a leading financial institution that has played a pivotal role in Brunei's economic development. Its evolution over the past three decades has been marked by rapid growth, innovation, and expanded capabilities in retail, corporate, and institutional banking. Today, Baiduri Bank is internationally recognised for its financial strength and innovation, reflected by its A-/A-2 stable rating from S&P Global Ratings. It has also been honoured with multiple international awards including "Bank of the Year 2024" by The Banker, "Best Bank in Brunei" by Euromoney and Global Finance, and "Best Banking Group in Brunei 2024" by World Finance. These accolades reinforce the Bank's credibility and its strategic readiness to expand its regional footprint. A strategic expansion into Singapore – Beyond Brunei The launch of the Singapore Representative Office represents the next chapter in this trajectory. It is a strategic move to strengthen Baiduri Bank's regional presence, promote its corporate and institutional banking capabilities, and enhance engagement with counterparty banks and financial institutions. Singapore, as one of the world's leading financial hubs, offers immense opportunities for the Bank to identify strategic partners and alliances. By acting as a bridge between Bruneian opportunities and Singapore's vibrant financial ecosystem, the office supports Brunei's economic diversification agenda while creating pathways for Singapore-based institutions and investors to access new markets and forge cross-border collaborations. Leading the Representative Office Leading the Baiduri Bank Representative Office is Mr Young Yi, Chief Representative Officer, a seasoned corporate banker with over 25 years of corporate banking experience across local and international banks, including Deutsche Bank, HSBC, Societe Generale, ANZ and Westpac. With a strong background in corporate banking, relationship management, Mr Young is a valuable addition to support Baiduri Bank's presence in Singapore. Commenting on the launch, Mr Young stated: "I am excited and privileged to be part of Baiduri Bank's journey in Singapore and I look forward to leveraging on my network, fostering strong meaningful collaborations to achieve win-win outcomes for Baiduri Bank and our partners. With our deep local knowledge of the Bruneian market, we offer ourselves as a trusted advisor to companies based in Singapore looking to invest in Brunei. The Representative Office will also serve as a referral conduit to our banking partners for Bruneian companies looking to expand into Singapore and the region". Strengthening regional economic collaboration Brunei presents a compelling value proposition for businesses, offering a stable operating environment, strong governance, and attractive tax schemes. As a signatory to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Brunei provides tariff-free access to one of the world's fastest-growing economic regions. With its well-educated workforce, absence of capital controls, and 1:1 currency interchangeability with the Singapore Dollar, Brunei is well-positioned as a gateway for regional business expansion. In support of this goal, Baiduri Bank is working closely with the Brunei Economic Development Board (BEDB) to encourage greater investment engagement and regional business connectivity. The Bank's Singapore Representative Office will serve as a touchpoint to facilitate conversations with potential investors and explore new opportunities linked to Brunei. By aligning efforts with BEDB, Baiduri Bank hopes to contribute meaningfully to Brunei's broader economic diversification goals—while helping connect Bruneian businesses to regional markets and Singapore-based stakeholders to emerging opportunities in Brunei. Launch and networking reception The launch ceremony of Baiduri Bank's Singapore office at MBFC Tower 2 was a distinguished event, attended by esteemed guests, including Yang Amat Mulia Pengiran Muda Dr Abdul Fattaah, Chairman of Baiduri Bank, senior government officials, and prominent leaders from the banking sector of Brunei and Singapore. Baiduri Bank's CEO, Ti Eng Hui, delivered an address outlining the Bank's vision for regional growth, followed by the unveiling of a meticulously crafted 3D replica of Baiduri Bank's headquarters presented alongside iconic landmarks of Brunei and Singapore – symbolising the strong economic ties between the two nations. Following the official ceremony, Baiduri Bank hosted a networking cocktail reception at the Mandarin Oriental Singapore, attended by over 300 guests, including representatives and senior leaders from regional financial institutions and corporations. Hashtag: #company #singaporeexpansion #bankingandfinance The issuer is solely responsible for the content of this announcement. Baiduri Bank Baiduri Bank Group is one of the largest providers of financial products and services in Brunei Darussalam. The Group comprises Baiduri Bank, Baiduri Finance and Baiduri Capital, providing banking services to institutions or corporations, retail banking, consumer financing, securities trading and wealth management. Established in 1994, Baiduri Bank's shareholders include Baiduri Holdings and Darussalam Assets. With a combination of global outlook combined with extensive local knowledge and commitment to the Brunei market, the Bank has been acknowledged as the leading conventional bank in the country with a track record of financial innovations and pioneering activities. In 2024, Baiduri Bank was awarded 'Bank of the Year 2024' by The Banker, 'Best Bank in Brunei 2023' by Euromoney, 'Best Bank in Brunei 2024' by Global Finance, 'Best Banking Group in Brunei 2024' by World Finance, 'Domestic Retail Bank of the Year, Brunei 2024' by the Asian Banking & Finance and 'Best Retail Bank in Brunei 2024' by the Asian Banker. The Bank was awarded the 2nd ASEAN Outstanding Social Welfare and Development Award (AOSWADA) in recognition of its CSR efforts in 2023. Standard & Poor's maintained the Bank's credit rating to 'A-/A-2' with Stable Outlook in July 2024. Baiduri Bank
Yahoo
21-05-2025
- Business
- Yahoo
Banorte, led by Chairman Carlos Hank-González, named best Latin American bank for innovation and technology by The Banker
Banorte won of the "Technology Awards 2025" The recognition highlights the technological advances in Banorte Móvil; the development of Artificial Intelligence in its Contact Center; and the promotion of financial inclusion for the visually impaired and the biometric verification process" MEXICO CITY, May 20, 2025 /PRNewswire/ -- Banorte was honored at the Latin American level at the Technology Awards 2025" of the prestigious international publication "The Banker". The award recognizes the technological advances in Banorte Móvil; the development of Artificial Intelligence in its Contact Center; and the promotion of financial inclusion for the visually impaired and in the biometric verification process. Banorte Móvil: Digitalization in the opening of automobile loans, increased remittance collection capacity for customers and non-customers, as well as the electronic opening of insurance policies. Artificial Intelligence: Through the Elina platform, the Banorte Contact Center consolidates 25 systems in one place, reducing the average customer service time from 10 minutes to 50 seconds. Financial Inclusion: The implementation of the voice-over functionality in the Banorte Móvil application allows more visually impaired customers to perform financial transactions independently. Banorte is the only bank in Mexico that has managed to expand its biometric verification process from using the index finger to the possibility of registering any of the 10 fingerprints. The above, thanks to a direct connection with the data centers of the National Electoral Institute. "We are very pleased to have received this award from The Banker. This award recognizes us as an innovative, inclusive, customer-focused financial institution and market leader in Latin America, said Carlos Hank González, Chairman of the Board of Grupo Financiero Banorte. To bestow these awards, The Banker evaluated more than 200 companies from various regions and different financial services categories. The Banker, the most important specialized publication for international banking, annually awards this prize, which is considered a standard of excellence. For more information about the award click here. About Banorte Grupo Financiero Banorte (GFNorte) offers financial services to individuals and corporations through its banking, brokerage, fund management, insurance, pension, leasing and factoring, warehousing, portfolio management and remittance businesses. In addition to being an active participant in the derivatives market. GFNorte also includes Afore XXI Banorte, the largest Afore in Mexico in terms of asset management. GFNorte is a public company listed on the main index of the Mexican Stock Exchange, and has 34,019 employees, 1,200 branches, 11,461 ATMs, 225,286 Point-of-Sale Terminals, and 19,719 correspondents. LinkedIn: Grupo Financiero Banorte Twitter: @GFBanorte_mx Facebook: Grupo Financiero Banorte View original content to download multimedia: SOURCE Banorte
Yahoo
21-05-2025
- Business
- Yahoo
Banorte, led by Chairman Carlos Hank-González, named best Latin American bank for innovation and technology by The Banker
Banorte won of the "Technology Awards 2025" The recognition highlights the technological advances in Banorte Móvil; the development of Artificial Intelligence in its Contact Center; and the promotion of financial inclusion for the visually impaired and the biometric verification process" MEXICO CITY, May 20, 2025 /PRNewswire/ -- Banorte was honored at the Latin American level at the Technology Awards 2025" of the prestigious international publication "The Banker". The award recognizes the technological advances in Banorte Móvil; the development of Artificial Intelligence in its Contact Center; and the promotion of financial inclusion for the visually impaired and in the biometric verification process. Banorte Móvil: Digitalization in the opening of automobile loans, increased remittance collection capacity for customers and non-customers, as well as the electronic opening of insurance policies. Artificial Intelligence: Through the Elina platform, the Banorte Contact Center consolidates 25 systems in one place, reducing the average customer service time from 10 minutes to 50 seconds. Financial Inclusion: The implementation of the voice-over functionality in the Banorte Móvil application allows more visually impaired customers to perform financial transactions independently. Banorte is the only bank in Mexico that has managed to expand its biometric verification process from using the index finger to the possibility of registering any of the 10 fingerprints. The above, thanks to a direct connection with the data centers of the National Electoral Institute. "We are very pleased to have received this award from The Banker. This award recognizes us as an innovative, inclusive, customer-focused financial institution and market leader in Latin America, said Carlos Hank González, Chairman of the Board of Grupo Financiero Banorte. To bestow these awards, The Banker evaluated more than 200 companies from various regions and different financial services categories. The Banker, the most important specialized publication for international banking, annually awards this prize, which is considered a standard of excellence. For more information about the award click here. About Banorte Grupo Financiero Banorte (GFNorte) offers financial services to individuals and corporations through its banking, brokerage, fund management, insurance, pension, leasing and factoring, warehousing, portfolio management and remittance businesses. In addition to being an active participant in the derivatives market. GFNorte also includes Afore XXI Banorte, the largest Afore in Mexico in terms of asset management. GFNorte is a public company listed on the main index of the Mexican Stock Exchange, and has 34,019 employees, 1,200 branches, 11,461 ATMs, 225,286 Point-of-Sale Terminals, and 19,719 correspondents. LinkedIn: Grupo Financiero Banorte Twitter: @GFBanorte_mx Facebook: Grupo Financiero Banorte View original content to download multimedia: SOURCE Banorte Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
