Mr. Abdulrahman Totonji, Chief Executive Officer of Qatar First Bank, emerged among the Top 10 CEOs in GCC Shari’a Compliant Banks’ Award category
Mr. Abdulrahman Totonji, Chief Executive Officer of Qatar First Bank LLC (Public) (“QFB” or “Bank”), has been recognized as one of the Top 10 CEOs in GCC in the Shari’a Compliant Banks’ category in the 6th edition of Top Conference and Awards 2022.
Organized by TRENDS magazine, the Top CEO Awards are based on the financial performance, size, and corporate governance of GCC-listed companies. The awards celebrate leadership in the Gulf Cooperation Council and recognize institutions that create value and boost the region’s economy while maintaining transparency and good corporate governance. The “Big Four” auditing firm, KPMG, has audited the rankings of the 2022 awards.
Mr. Abdulrahman played a crucial role in leading the team at QFB to cement the bank’s position with a turnaround financial performance, as well as, to build a more diversified investment portfolio and stable income, leading QFB to a profitable position during its critical shift to a new strategic direction.
Mr. Abdulrahman Totonji, QFB’s CEO said: “I am truly honored to receive this prestigious award from Top CEO, which would not have been possible without a solid strategic direction, the support of our team, trust and confidence of the Board of Directors and our shareholders. At QFB, we remain committed to strengthening our investment portfolio in Qatar and beyond by offering sustainable profitability, growth, and risk adjusted results through our top-notch innovative Shari’a compliant products.”
In the year 2021, QFB achieved its highest ever net profit (attributable to equity holders of QFB) in the past six years of QAR 100.37 million. The Bank continued its profitable momentum in the first quarter of 2022 recording a net profit of QAR 21 million. The Bank’s total Assets Under Management reached QAR 3.85 Bn, an increase of 79% over the last year, following various real estate acquisitions in the US real estate market.
Qatar First Bank LLC (Public) is the first independent Shari’a compliant bank authorized by the QFC Regulatory Authority (QFCRA) and a listed entity on the Qatar Stock Exchange (QSE: QFBQ).