IBQ
| Private company | |
| Industry | Banking |
| Founded | 1956 |
| Headquarters | Doha, Qatar |
| Products | Retail banking; Corporate banking; Private banking |
| Website | www.ibq.com.qa |
The International Bank of Qatar (IBQ) (Arabic: بنك قطر الدولي) is an established private sector bank operating in Qatar since 1956. The bank offers a range of products and services across retail, private and corporate banking divisions.
IBQ has a growing network of branches and ATMs covering most major locations across the country. [1]
The association with NBK also provides the bank with an extensive international reach covering major financial centres in Europe, Middle East, Asia and the United States, distinguishing IBQ among its local competitors.
History
Starting as the Ottoman Bank on 1 November 1956, IBQ has undergone several ownerships in its history.
In 1969 the Ottoman Bank sold its branches to the National and Grindlays Bank which later became known as Grindlays. In 1989, the bank changed names again to ANZ Grindlays when it was acquired by the Australia and New Zealand Banking Group. In 2000, the Standard Chartered Group acquired ANZ Grindlays, thereby taking over as major shareholder.
In August 2004, the bank was renamed "IBQ', when National Bank of Kuwait (NBK) acquired a 20% stake in the bank and assumed management responsibilities. In July 2007, NBK increased its share of the bank to 30% and sold them back to Qatari investors in 2014.
Awards
The commitment to customer relationships and best practices are reflected in the numerous awards won by the bank, including "Best Private Bank for Privacy and Security" in Qatar for 2013 by the UK's Euromoney Magazine, "Best Private Banking Services in Qatar 2012" by the UK’s Euromoney Magazine, "Best Credit Card in Qatar" Award from Banker ME Magazine for 2012, "Best Retail Bank in Qatar 2011" from Arabian Business, and “Best Customer Service in the Middle East” award for 4 consecutive years 2008, 2009, 2010 and 2011 from The Banker Middle East magazine.
In June 2009, IBQ was also recognised as "the fastest moving bank" in the Middle East and North Africa region and the 26th fastest mover globally in The Banker magazine's Top 1,000 World Bank survey 2009.[2]
Corporate Social Responsibility
IBQ actively contributes to the well being of the local community by offering financial and practical support to a wide range of CSR projects which are mainly built around, education and youth development, development of Qatar's economy and projects that promote culture, safety and empowerment of women.[3]
References
- ↑ Branches LBQ
- ↑ "Top 1,000 World Banks 2009". The Banker. Retrieved 25 November 2009.
- ↑ Media Center LBQ