Top 5 Banking Institutions in Qatar

98 0 Updated: 2021-09-18 18:44:01 Listed: 2021-09-18 Report WEB ID: 1472

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As of January 2021, the Qatar Central Bank controls 18 banks. Local banks dominate Qatar's banking industry and have very high credit ratings (AA3 to A1) from Moody's.

Despite the rising international exposure of Qatari banks, the industry has remained stable and efficient.

1. Qatar National Bank (QNB) is Qatar's major trading bank. It is based in Doha, the capital of Qatar. QNB, Qatar's first domestic commercial bank, was formed in 1964. It became not only the largest financial institution in Qatar, but also the largest in the Middle East.

Net income: QAR 12.0 billion (2020)
Total assets: QAR 1.042 trillion (3/2021)

2. Qatar Islamic Bank (QIB) is Qatar's largest Islamic bank. Founded in 1982 with a 25 million QAR pay-up capital, QIB started its first business in 1983 as the first Islamic financial organization in Qatar. The firm has 29 locations in Qatar and a subsidiary in Sudan. Founded in 1982, Qatar Islamic Bank (Q.P.S.C.) has a main office in Doha, Qatar.

Net income: QAR 3.06 billion (2020)
Total assets: QAR 180.2 billion (3/2021)

3. The Qatar Commercial Bank is the largest of Qatar's private banks. It was established by Hussain Alfardan, a Qatari businessman. Alfardan worked for Standard Chartered (which was then known as Eastern Bank Limited) and identified the need for a private commercial bank in Qatar.

Net income: QAR 1.30 billion (2020)
Total assets: QAR 163.08 billion (3/2021)

4. Masraf Al Rayan is Qatar's second largest Islamic bank. The bank was established in 2006 and has 12 offices around Qatar. It is regulated by the Central Bank of Qatar and listed on the Qatar Stock Exchange. Al Rayan comprises of Al Rayan Retail Banking, Al Rayan Wholesale Bank and Al Rayan Private Banking, and three departments.

Net income: QAR 2.18 billion (2020)
Total assets: QAR 125.5 billion (3/2021)

5. Doha Bank is one of Qatar's major business banks. The Bank was established in 1979 and began operations in March 1979. It consists largely of four branches: wholesale banking, retail banking, international banking, and treasury and investment.

Net income: QAR 703.0 million (2020)
Total assets: QAR 112.15 billion (3/2021)


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