Fitch Ratings has affirmed International Bank of Qatar’s (ibq) Long-term issuer default ratings at 'A+' with a stable outlook. The agency also upgraded ibq's Viability Rating (VR) to 'bbb-' from 'bb+', driven by ibq's sound growth strategy and solid capitalisation. The rating also reflects the bank's sound asset quality and liquidity, which compares well with that of many of its peers, notably during the period of tighter sector liquidity in 2015.
Fitch Ratings is an internationally recognised ratings agency, providing independent research on global financial institutions. “This rating is an affirmation of the strength and stability of Qatar’s banking sector, which continues to record growth despite the slowing of the global economy,” said ibq Managing Director Omar Bouhadiba. “As we move forward, we will continue to deliver to our customers the best products and services and this revised rating by Fitch confirms that the bank’s strategy is sound, its capital strong and should enable ibq to drive business forward for the benefit of all our clients.”
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