Qatar First Investment Bank (QFIB) announced re-branding as Qatar First Bank QFB), The Peninsula reported.
The management’s decision to re-brand the bank is followed by its upgrade to a Category 5 license back in 2010, which would allow the bank to broaden its product offering. The decision also reflects the bank’s strategic evolution of its business model.
QFB’s future plans include the opening of an exclusive high end branch that will offer a portfolio of financial services including investment products such as sukuk funds, direct private equity co-investment, in addition to transaction services such as credit cards, cheque books and transfers. The bank will offer non-financial services such as concierge, advisory and research services.
To date, the bank has invested QR1.5bn in 16 transactions spanning five different sectors, seven geographies and successfully exited four investments.
Building on its four years of success as a leading Shariah-compliant investment bank, QFB will now evolve its business model to offer a comprehensive range of financial products and services, in addition to its existing principal investments, corporate finance and asset management offerings.