IBQ earns A+ rating from Fitch

The International Bank of Qatar has received an A+ rating from Fitch.
The International Bank of Qatar has received an A+ rating from Fitch.
The International Bank of Qatar (IBQ) received an A+ long-term issuer default rating along with a stable outlook and short-term issuer default rating of F1 from Fitch Ratings on July 8.

Fitch officials forecast that all highly-rated Qatari banks will get any needed support from the government or other sources.

IBQ is one of Qatar's oldest banks. Its franchises are focused mainly on domestic private banking. Its loans are made mostly to domestic companies in both the public and private sectors.

In assigning its rating, Fitch found the risks on IBQ's loan books were well-managed and that any risks are mainly government-related. The bank was also found to be well-collateralized. Its asset quality metrics and loan impairment charges were in line with banks of like size.

"We expect the bank's concentrations to improve modestly as it implements its growth plans," a Fitch release said. "Profitability ratios are sound and reflect a favorable business environment. Capital ratios compare well with peers, but Fitch considers a high level of capital to be necessary in view of the above-average loan book concentration. Fitch also expects capitalization to weaken with the bank's asset growth, but to remain sound. Liquidity is sound but funding is very highly concentrated, more so than for most peers."

For more information, visit www.fitchratings.com.

Organizations in this Story

International Bank of Qatar

Want to get notified whenever we write about International Bank of Qatar ?
Next time we write about International Bank of Qatar, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.