Barwa Bank receives A+ and A2 Credit Ratings from Fitch and Moody’s respectively
Doha, Qatar – April 2014 - Barwa Bank, Qatar's most progressive Shari’ah compliant service provider, receives A+ and A2 credit ratings from Fitch and Moody's respectively.
H.E Sheikh Mohammad Bin Hamad Bin Jassim Al Thani, Chairman and Managing Director of Barwa Bank Group commented on this occasion:
"Receiving such high credit ratings is a clear indication of the bank’s continuous efforts to achieve excellence, solid financial position, and an affirmation of its firm positioning among the prestigious financial institutions; in Qatar and regionally.”
For his part, Khalid Yousef Al Subeai, Acting Chief Executive Officer of Barwa Bank Group, said:
“We are delighted to receive these ratings, which are testament to the collective efforts of the Barwa Bank team. The bank benefits from a high profit margin, and a high quality finance portfolio with very low nonperforming assets that doesn’t exceed 1.8%; one of the lowest amongst the banks in the region. In addition Barwa Bank’s high capitalisation enables it grow even further and acquire a bigger market share as it reinforces trust in the investor community .”
“These credit ratings also provide us with a source of inspiration that will push us to continue to deliver and strengthen the bank's role in advancing Islamic banking in the region,” he added.