Top 10 banks in Qatar {Latest}

Qatar’s banking system is not large in terms of market volumes as compared to other countries but is growing at a rapid pace. Qatar’s banking system is controlled by the Qatar central bank. Recently international rating agencies and the Qatar Stock Exchange have shown financial stability of the bank due to their liquidity and solid earnings.

1. Qatar International Islamic Bank. Founded in 1991.

2. Al Ahli Bank. Founded in 1983.

3. Qatar Development Bank. Founded in 1997.

4. Qatar Islamic Bank. Founded in 1982.

5. HSBC Bank Middle East. Founded in 1889.

6. Al Khaliji commercial bank. Founded in 2007.

7. Doha Bank. Founded in 1979.

8. Barwa Bank. Founded in 2008.

9. Qatar National Bank. Founded in 1964.

10. Commercial Bank. Founded in 1975.

1. Qatar International Islamic Bank: QIIB is a privately owned Islamic Bank in Qatar founded in 1991 that offers personal and corporate Islamic online banking solutions. The bank is regulated by Qatar Central Bank in that it is highly rated for financial strength and outlook by international agencies. The bank recorded a net profit of QAR 882.1 million in 2018 with a growth rate of 6% compared to 2017. Total assets as of December 2018 were QAR 50.3 billion. QIIB operates through three segments of corporate banking, Personal Banking, and Treasury and investment.

2. Al Ahli Bank: The bank was founded in 1983 and offers a full range of products and services through corporate banking, retail, and private banking, international banking, online banking, treasury and investment, and brokerage services. The bank reported a net profit of QAR 665.6 million for the year ended 2018 before which was 4.04% higher than in 2017. The total assets with the bank at the end of 2018 were QAR 40.4 billion which is slightly higher than the previous year. In 2018, the bank won the Best Bank in Quality Assets award at the New Age banking summit. The bank operates through a network of 14 branches for customers.

3. Qatar Development Bank: The bank provides financial services for small and medium-sized industrial, educational, health, agricultural and tourist projects in Qatar and also offers long and medium-term loans for industrial projects. The bank was founded in 1997 to promote economic and industrial development in the country. Previously the bank was known as Qatar Industrial Development Bank. Currently, about 270 employees work in the bank. The bank increased its capital from QAR 200 million to QAR 12 billion by shifting its focus from a purely industrial financing mandate to being a fully-fledged development bank.

4. Qatar Islamic Bank: Qatar Islamic Bank is the first Islamic Bank in Qatar founded in 1982 and still its largest Islamic banking institution in Qatar. It contributes 42.3% in the Islamic banking sector of the country and 11% in the total market. At the end of 2018, the bank had a total QAR assets of 153.2 billion. The bank operates through corporate banking, personal banking, group functions, and local and international subsidiaries. QIB has been recognized with two awards during 2018 by New Age Banking ‘Best Islamic Bank in Qatar’ and ‘Excellence in Mobile Banking’.

5. HSBC Bank Middle East: HSBC is one of the largest banking and financial services organizations. HSBC started its business in Qatar in 1954 and played an important role in economic development countries. It offers business, corporate, and commercial banking services. HSBC is the oldest foreign bank and is a subsidiary of HSBC Holding PLC. The bank also offers wealth management and offshore banking services. The bank operates through 3 branches and one head office and about 12 ATMs. The HSBC debit card provides access to over 800,000 ATMs worldwide.

6. Al Khaliji commercial bank: It is Qatar bank offering a full range of conventional banking products and online banking services to its premium, highly business, corporate sector, and international customers in Qatar, UAE, and France. The bank reported a net profit of QAR 608 million during 2018 and the bank’s outlook updated from negative to stable during 2018. The bank’s profit was 10.5% higher than the previous year and the total assets with the bank were QAR 52,103 Million now.

7. Doha Bank: Doha Bank is one of the largest commercial banks founded in 1979. The Bank provides domestic and international banking services through four business groups: Wholesale Banking, Retail Banking, International Banking, and Treasury and Investing in its Individual, Commercial, Corporate and Institutional Clients. Doha Bank has received many awards in recognition of its achievement. Doha Bank has recently been awarded the Bank of the Year Qatar domestic trade finance by Asian banking and finance.

8. Barwa Bank: Barwa Bank is the newest Islamic bank opened by Qatar’s central bank. The bank provides a full range of banking services including retail banking, commercial banking, online banking, business banking, private banking, real estate finance and so on. The banks have a QAR of 3 trillion. First, the bank reported a net profit of QAR 208.7 Million which was only 15% higher than the year 2017 achieved during the same period and in the same group.

9. Qatar National Bank: QNB is the first Qatari owned commercial bank established in 1964. It is the largest and largest financial institution in the Middle East and Africa region. For the year 2018 net profit posted by a bank is QAR 13.8 billion which is 5% up compared to the previous year during the same period. Total assets of the bank as of December 2018 were QAR 862 billion which is 6% up on the previous year during the same period. The total number of employees working in QNB is 29,000 band banks operating through more than 1,100 branches and 4,400 ATMs.

10. Commercial Bank: Commercial Bank plays an important role in Qatar’s economic development as it offers personal, business, government, international and investment services. The bank was established in 1975 as Qatar’s first private bank. It is the second-largest commercial bank in the country by total assets. The Group reported a net profit of QAR 1663.2 Million during 2018 which is 175.5% higher than the previous year during the same period the way they improve their work. The total asset with a bank as of December 2018 was QAR 135.1 billion which decreased by 2.4%. The bank received an Award from Global Finance as the best bank.