Fitch affirms Qatar Islamic Bank's ratings

Fitch Ratings has affirmed Qatar Islamic Bank's Long-term Issuer Default Rating (IDR) at 'A' with a Stable Outlook. Fitch has simultaneously affirmed QIB's Short-term IDR at 'F1', Individual rating at 'C', Support rating at '1' and Support Rating Floor at 'A'. At the same time, QIB Sukuk Funding Limited's $ 750m Sukuk issue of senior unsecured trust certificates has been affirmed at 'A'.
QIB's Individual Rating also considers the bank's well-established and strong domestic franchise, together with an environment reflecting high levels of economic activity. Fitch considers that the trend of rapid credit growth could negatively affect the bank's financial performance indicators as the loan book seasons or if there were further stresses in Qatar's real estate segment.