Fitch affirms Qatar Islamic Bank

Fitch Ratings said it affirmed Qatar Islamic Bank's long-term issuer default rating at A and viability rating at BBB.

The outlook is stable.

Fitch said it believes there is an extremely high probability of support from the Qatari authorities, if required, in light of Qatar Islamic Bank's strong domestic franchise and systemic importance, Fitch said.

Support is the key rating driver, along with its good asset quality, strong tier 1 capitalization and robust earnings, the agency said.

The ratings also consider the bank's exposure to real estate financing and high financing concentrations, Fitch said.

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