International Bank of Qatar (IBQ
) has received the "Best Private Bank in Qatar" award at Global Finance's fourth annual "World's Best Private Banks Awards."
Chaouki Daher, GM and head of Private Banking at IBQ
, said, 'We are proud to receive this prestigious award which is a testament to IBQ
's position as the private bank of choice in Qatar.
's IDRs, Support Rating (SR) and Support Rating Floor (SRF) reflect Fitch's expectation of an extremely high probability of support from the Qatari authorities for domestic banks in case of need.
team of private bankers has one of the best local expertise and insights, allowing us to cater to the needs of our HNWI (high-net-worth individual) and UHNWI (ultra high-net-worth individual) customers," said Daher.
continues to rationalise its cost structure as appropriate while keeping pace with technology, security and safeguarding client data and assets.
"This set of results is the outcome of ibq
's long established strategy of strong customer focus, conservative risk management, high service standards and quick decision-making that allows it to respond to its client needs at very short notice.
The award recognises ibq
's high quality Retail Customer Service which includes the unique loyalty programme thanq that was also voted for as the "Best Customer Loyalty Programme in Qatar".
"We have decided to exit this partnership as we saw limited opportunity to increase our 30 percent ownership in IBQ
to a controlling stake.
Calls to an IBQ
spokesman seeking clarification on the identity of the buyers went unanswered.
He will replace George Nasra, who will remain a member of the board of directors of IBQ
The sale includes IBQ
's Al Yusr retail loans and deposit account portfolios, the two Al Yusr branches including ATMs as well as the transfer of Al Yusr employees to Barwa Bank, IBQ
said in a statement on Sunday.