Qatar Islamic Bank (QIB) Group CEO Bassel Gamal has topped the list of 100 best-performing CEOs of listed companies in the GCC states at the “Mediaquest 2016 Top CEO Awards.”
The awards ceremony was held under the patronage of the Dubai Economic Council, and organised by the business magazine, Trends, and Insead Business School.
The event honours chief executive officers (CEOs) whose leadership has driven the performance of their companies and contributed to economic growth in the Gulf Cooperation Council (GCC).
As the definitive platform for the recognition of exceptional business leadership in the GCC, the event honoured top industry leaders from companies listed on GCC stock exchanges across different categories.
The listed companies are sourced from the seven GCC stock exchanges; data for each company is collected and parameters include revenues, market capitalisation, and its evolution in the past 24 months.
Besides financial data, corporate governance is also an integral part of the evaluation process with the involvement of “Hawkamah” in the ranking process. Trends has partnered with Insead Business School “to perfect the formula” to evaluate the performance of CEOs and their companies. The formula and the rankings are then audited by Deloitte before the awards are announced.
QIB chairman Sheikh Jassim bin Hamad bin Jassim bin Jaber al-Thani congratulated Gamal, on behalf of QIB board of directors and all the employees, for being recognised as the best CEO across GCC public listed companies.
Sheikh Jassim said: “QIB is proud of this achievement as this award reflects the outstanding performance of the Qatari banking sector and Qatar Islamic Bank as we continue to grow and support the national efforts to diversify Qatar’s economy.”
When Gamal joined QIB in February 2013, the bank’s total assets stood at QR73.2bn, and its total deposits at QR43.1bn by end of December 2012. Under his stewardship, QIB’s total assets increased to QR127bn, while total deposits grew to QR92bn by the end of 2015.
In addition, QIB’s net profit grew under Gamal’s leadership from QR1.24bn by end of 2012 to QR1.95bn by end of 2015, while the bank’s financing portfolio rose from QR43.1bn by the end of 2012 to QR87bn by the end of 2015.
“I’m honoured to be recognised alongside such notable members of the region’s business community. Each one of them has helped to elevate the standards of business practice in the GCC and to cement the region’s reputation as a major centre of business and commerce,” Gamal said.
He added: “I owe this honour to the QIB family, to the tremendous support of QIB’s board of directors and the hard work and dedication of more than 1,000 colleagues who collectively have placed QIB among the leading financial institutions and helped it to achieve significant results in a remarkably short period.