The Qatar Central Bank licenses and regulates 18 banks in the country as of January 2015. Although the increasing foreign exposure of Qatar’s banks is a growing challenge for authorities, Qatar’s banking sector has maintained its stability and efficiency through the years. Local banks dominate Qatar’s banking sector and these banks have very high credit ratings, with Moody’s rating them Aa3 to A2. This guide will outline the top banks in Qatar.
Here is a list of the top 10 banks in Qatar. Learn about their history, operations, and size so you can plan your career path as we profile the top banks in Qatar.
Qatar National Bank (QNB) is the largest commercial bank in Qatar. It is headquartered in Doha, Qatar’s capital city. The first domestically owned commercial bank in Qatar, QNB was founded on June 6, 1964, growing into not just the biggest in Qatar but also the largest financial institution in the Middle East. QNB owns and operates subsidiaries in 31 countries. The bank is jointly owned by the Qatar Investment Authority and members of the public who each own 50%.
Assets in 2016: $197,718,273,000
Assets in 2015: $147,968,995,000
Growth Rate (2015-2016): 33.62%
Net profit in 2016: $3,407,769,000
Return on assets (ROA) in 2016: 1.72%
Qatar Islamic Bank (QIB) is the largest Islamic bank in Qatar. QIB was established in 1982 with a paid-up capital of QR25 million and opened its first branch in 1983 as Qatar’s first Islamic financial institution. Since it is an Islamic financial Institution, all products and services offered by the bank are supervised by a Sharia Board. The Sharia Board ensures that the bank adheres to Islamic banking principles. For instance, Islamic banking rules forbid usurious lending (i.e., charging interest on loans).
Assets in 2016: $38,415,969,000
Assets in 2015: $34,898,490,000
Growth Rate (2015-2016): 10.08%
Net Profit in 2016: $579,869,000
Return on Assets (ROA) in 2016: 1.51%
The Commercial Bank of Qatar is the largest private bank in Qatar. It was set up a Qatari businessman called Hussain Alfardan. The businessman used to work for Standard Chartered (then called Eastern Bank Limited) and saw the need for a private commercial bank in Qatar. The Commercial Bank of Qatar was established in 1975 as the first private bank in the country. The bank started its operations on April 10, 1975 out of a small two-storey building in what is now Souq Najada.
Assets in 2016: 35,818,760,000
Assets in 2015: 33,906,883,000
Growth Rate (2015-2016): 5.64%
Net profit in 2016: $137,741,000
Return on assets (ROA) in 2016: 0.38%
Masraf Al Rayan is the second largest Islamic bank in Qatar. Al Rayan was incorporated in 2006 and operates 12 branches situated across Qatar. It is licensed by the Qatar Central Bank and is listed on the Qatar Stock Exchange. Al Rayan is primarily composed of three divisions: Al Rayan Retail Banking, Al Rayan Wholesale Banking, and Al Rayan Private Banking.
Assets in 2016: $25,145,879,000
Assets in 2015: $22,809,341,000
Growth Rate (2015-2016): 10.24%
Net profit in 2016: $570,055,000
Return on assets (ROA) in 2016: 2.27%
Assets in 2016: $24,825,535,000
Assets in 2015: $22,887,119,000
Growth Rate (2015-2016): 8.47%
Net profit in 2016: $289,500,000
Return on assets (ROA) in 2016: 1.17%
Doha Bank is one of the largest commercial banks in Qatar. Doha Bank was incorporated in 1978 and started its operations in March 1979. Doha Bank primarily comprises 4 divisions: Wholesale Banking, Retail Banking, International Banking, and Treasury and Investments. The bank also operates branches in Kuwait, UAE, India, as well as representative offices in China, Japan, Singapore, Hong Kong, United Kingdom, Canada, and Germany.
Assets in 2016: $16,647,596,000
Assets in 2015: $15,558,800,000
Growth Rate (2015-2016): 7%
Net Profit in 2016: $117,193,000
Return on Assets (ROA) in 2016: 0.7%
Al Khaliji Commercial Bank operates out of Doha, with a strong presence not just in Qatar but also in the UAE, including offices in Abu Dhabi, Dubai, Sharjah, and Ras Al Khaima. Also, Al Khaliji also maintains an office in Paris, France. Al Khaliji primarily consists of 4 divisions: Wholesale Banking, Retail Banking, Treasury Management, and Central Functions Management.
Barwa Bank is the youngest Islamic Bank in Qatar. It is licensed and regulated by the Qatar Central Bank. As with other Islamic Banks, all services provided by Barwa Bank are Sharia-compliant (i.e., they follow Islamic Banking rules and regulations). Barwa Bank offers retail banking, corporate and commercial banking, business banking, private banking, real estate financing, and asset management services.
Assets in 2016: $12,651,011,000
Assets in 2015: $12,418,027,000
Growth Rate (2015-2016): 1.88%
Net Profit in 2016: $202,968,000
Return on Assets (ROA) in 2016: 1.60%
Qatar International Islamic Bank (QIIB) is a privately owned Islamic Bank. QIIB was established in 1991 and is licensed and regulated by the Qatar Central Bank. As with other Islamic Banks on this list, all the services QIIB provides are Sharia-compliant.
Assets in 2016: $11,689,824,000
Assets in 2015: $11,137,375,000
Growth Rate (2015-2016): 4.96%
Net Profit in 2016: $215,596,000
Return on Assets (ROA) in 2016: 1.84%
To break into investment banking there are several important things to focus on. These include networking, resume, experience, and financial modeling skills. To learn more, explore our interactive career map….
For banking careers, you will have a significant edge over the competition with our financial modeling courses.
This has been a guide to the top 10 banks in Qatar. For anyone looking for a career in banking, this list is a great place to start your networking. Please also see these additional resources:
Advance your career in investment banking, private equity, FP&A, treasury, corporate development and other areas of corporate finance.
Download CFI’s FREE eBooks with 100’s of pages of career skills, tips and keys to success!