Mubasher: Qatar International Islamic Bank (QIIB) on Tuesday announced that Moody’s Investors Services (Moody’s) has confirmed its rating at “A2” with a “Stable” outlook.
The international rating agency based its rating on the bank’s stable financial performance, in addition to maintaining its assets’ quality and solid capital, and maintaining liquidity, according to the bank's statement to the Qatar Stock Exchange (QSE).
On Monday, Moody’s has affirmed the long-term deposit and issuer ratings of ten Qatari banks, in addition to the senior unsecured and subordinated debt ratings of their affiliated entities.
In the same vein, the New York-based rating agency changed the outlook on the ten banks' long-term deposit, issuer and senior unsecured debt ratings to "stable" from "negative".
The ten banks include Qatar National Bank (QNB), Doha Bank, Barwa Bank, Qatar International Islamic Bank (QIIB), Masraf Al Rayan, Qatar Islamic Bank (QIBK) and Commercial Bank of Qatar (CBQ).
QIIB will reveal its financial results for the second quarter of 2018 on 19 July, the statement showed.
Net profits of the Qatari leading shariah-compliant lender rose 7.1% year-on-year to QAR 253.2 million for the first quarter of 2018.
By 12:10 pm Qatar time, QIIB’s stock retreated 0.18% at QAR 54.50.
