«3» Qatari Banks Among the World’s Safest
3 Qatari banks were ranked in Global Finance’s list of the safest banks in the emerging markets region for 2022, and Global Finance ranks the 50 safest banks in the world for the year 2022 according to the criteria of credit strength in the banking and financial circles, and the annual ratings of the safest banks in the world are from Global magazine American Finance has been a reliable standard for financial security for more than 25 years, as the best banks are selected based on the evaluation of long-term foreign currency ratings from international credit rating agencies: “Moody’s”, “Standard & Poor’s” and “Fitch”, as well as the quality of the bank performance financials.
The list of the three banks included: Qatar National Bank "QNB", Qatar Islamic Bank, and Dukhan Bank, where Qatar National Bank ranked 14th in the list of the safest banks in the emerging markets region.
QNB Group is the largest banking institution in the Middle East and Africa, and the second-largest entity in the region in terms of asset value after Saudi Aramco.
The group is active in more than 31 countries across 3 continents, and the number of its employees exceeds 27,000 across 1,000 locations.
Qatar Islamic Bank (QIB) ranked second among the Qatari banks mentioned in the list and ranked 39th in the list of the safest banks in the emerging markets region.
The bank achieved growth in its net profits by 14% to reach 1.815 billion riyals by the end of the first half of 2022, compared to profits of 1.595 billion riyals during the same period in 2021, earnings per share amounted to 0.77 Qatari riyals in the first half of 2022 compared to 0.68 Qatari riyals per share for the same period in the previous year.
QIB Group owns stakes in a number of Sharia-compliant companies in Qatar, including QInvest, an investment banking institution affiliated with the bank, in addition to associate companies such as Al-Dhaman Islamic Insurance Company “Beema” which specializes in providing Takaful insurance programs, and Al-Jazira Insurance Company.
The QIB group also has a presence in a package of international markets, as it owns QIB-UK, a financial institution affiliated with the Bank that was established in 2008 to meet all the financial needs of individuals and Qatari companies in the United Kingdom.
The QIB group also has a presence in Lebanon through the Arab Finance House, in addition to a branch in Sudan.
Dukhan Bank ranked third among the Qatari banks included in the list and ranked 50th in the list of the safest banks in the emerging markets region. Dukhan Bank achieved a net profit during the first half of 2022 of 745 million Qatari riyals, an increase of 27%, compared to 586 million Qatari riyals during the period first half of 2021.
During the first half of 2022, Dukhan Bank's total assets amounted to 104 billion Qatari riyals, total shareholders' equity amounted to 14 billion Qatari riyals, and the total capital adequacy ratio stabilized at 18.3% on June 30, 2022.
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