Qatar-based banks wit­nessed the strong­est growth in to­tal as­sets – 21.6% YoY to QR794.25 bil­lion ($218.2 bil­lion) – fol­lowed by banks in Kuwait (13.6% YoY) in the GCC at the end of March 2014. The ex­pan­sion in as­set base was sup­ported by dou­ble-digit grow

Qatar Today - - BUSINESS > BANK NOTES -

Ac­cord­ing to Kuwait-based Global In­vest­ment House, Com­mer­cial Bank of Qatar led the growth rate with 33.2% YoY fol­lowed by Doha Bank (22.4%), Kuwait-based Bur­gan Bank (21.8%), Qatar Is­lamic Bank (21.1%), and Qatar Na­tional Bank (20.6%).

While Com­mer­cial Bank of Qatar's as­set

“Win­ning the ‘Is­lamic Bank of the Year 2014' award recog­nises the progress our bank has been mak­ing con­sis­tently. We have achieved 15% growth in the Q1 2014 com­pared with the cor­re­spond­ing pe­riod in 2013. We look for­ward to main­tain­ing our lead­er­ship as the first and lead­ing Is­lamic bank in Qatar by pro­vid­ing in­no­va­tive fi­nan­cial prod­ucts and ser­vices to our in­di­vid­u­als and cor­po­rate clients.”

growth was pro­pelled by its ac­qui­si­tion of ABank in Turkey, the Doha Bank, Bur­gan Bank and Qatar Is­lamic Bank were largely sup­ported by their re­spec­tive loan book growth. The ac­qui­si­tion of NSGB in Egypt was in­stru­men­tal for Qatar Na­tional Bank's as­set growth.

BASSEL GA­MAL Group CEO, Qatar Is­lamic Bank

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