The International Bank of Qatar (IBQ), the associate bank of National Bank of Kuwait (NBK), has announced the unveiling of its new corporate identity. The new corporate identity was unveiled at a reception held at the Four Seasons Hotel in Doha. The function was attended by Ibrahim Dabdoub NBK Group CEO & Vice Chairman of IBQ, NBK CEO – Kuwait Issam Al Sager, NBK DCEO Adel Al Majed, IBQ Managing Director George Nasra, board members, and distinguished guests. This marks the start of a new era for IBQ, while it also celebrates a notable 50 year old history as a leading bank in Qatar.
NBK Group CEO & Vice Chairman of IBQ, Ibrahim Dabdoub said: "The move to embrace a new identity indicates IBQ's recognition of the changing demands of the Qatari Market. As the country rapidly progresses, so does the expectations of its people. We felt that a fresh look and feel was needed to reflect the changes we are making to meet the challenges of a 21st century Qatar. We will be improving our ability to meet the evolving needs of our customers by continually enhancing processes. We will continue to diversify our product range and introduce innovative, value added products and services. This will be bolstered by heavy investment in our internal processes, systems infrastructure and human capital. The revitalized corporate identity confirms how IBQ is moving to a new era of change. We know this will help us become a leading banking force in the State of Qatar”.
Qatar’s oldest bank continues to evolve in parallel with Qatar’s phenomenal growth and the more recent diversification of the economy. The new logo signals the blossoming of a friendly and approachable bank that builds on the bank’s legacy of delivering superior customer service.
“IBQ has been serving the Qatari economy since its establishment in 1956. However, it has undergone a major transformation since the start of its association with NBK in 2004. By joining forces with NBK Group, IBQ set on a path to bring to its constituents, shareholders, customers, employees and the community at large, the values that have long distinguished NBK. It has changed its business model and broadened its offering to cater to all customer segments, while focusing on building long lasting relationships and providing excellent levels of customer service that have become synonymous with the name IBQ. It is this excellence in customer service that earned the Bank the award of “Best Customer Service in the Middle East for 2008”, Dabdoub added.
Dabdoub said: “Having spent 48 years of my career at NBK, I can tell you that I have come to recognize the elements of success in emerging banks. I can tell you with confidence that IBQ is now poised to achieve greater success going forward, success that makes all of us involved with its transformation, NBK included, proud and excited about the future. To meet the challenges of the 21st century Qatar, IBQ has taken a broad set of strategic initiatives including a fresh and vibrant look to reflect its forward vision. A vision that embodies change as the only way to move forward, and a core set of values centered on integrity, collaboration and enthusiasm”.
“The Bank has expanded its branch network to 8 with 7 more planned for next year. It introduced unique, value-added products and services, enhanced delivery channels and upgraded its IT infrastructure. It has invested in training and development of staff. These strategic initiatives help in shaping IBQ's new identity, strengthening its standing, and positioning it to become a leading force in Qatar's banking sector”, Dabdoub added.
The new identity reflects IBQ’s vision to become a leading bank in Qatar through personalized and customer focused banking. Capitalizing on what has been an ongoing strategy for success; IBQ’s distinctiveness in this regard is now properly captured with its vibrant and bright new logo. The character and spirit of the bank is represented as being modern, progressive and caring, which will make all its customers feel special. IBQ is guided by its core values of integrity, collaboration and enthusiasm when dealing with its customers and makes sure that their needs are fulfilled.
“The new identity will be rolled out across all branches and customer touch points including exterior signage, ATMs, Website, internet banking and marketing collaterals”, Dabdoub concluded.
IBQ's success resulted in a solid performance over the last five years. Perhaps more important than the growth in profitability and return on equity is the international reach that the Bank has acquired through NBK. IBQ is now able to leverage NBK's international network, management expertise and name to its advantage. It is also able to provide its customers with access to world class services and markets.
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• About the International Bank of Qatar (IBQ)
The International Bank of Qatar (IBQ) is a well established and rapidly growing commercial institution, offering a full range of retail, private and corporate banking solutions. IBQ has a strong commitment to build long-lasting relationships with its customers and provide them with excellent customer service with a focus on making banking simple, convenient and tailored to their needs. IBQ is one of the oldest existing banks in Qatar and celebrated its 50th anniversary in 2006. It has a growing network of 9 branches and 30 ATMs in strategic locations throughout Qatar.
IBQ was recently awarded the Best Customer Service Award for 2008 from the Banker Middle Magazine. IBQ is 30% owned and managed by the National Bank of Kuwait (NBK), the largest bank in Kuwait and the highest rated in the Middle East. IBQ is a thriving and growing bank that benefits from an international network as a result of its affiliation with NBK which gives its customers access to greater resources and a wide range of international services.
• About National Bank of Kuwait (NBK)
NBK was founded in 1952 as the first indigenous bank and the first joint stock company in Kuwait and the Gulf Region. It is by far the largest financial institution in Kuwait with effective market dominance in the commercial banking market. NBK stands out in Kuwait and among Arab banks in terms of its local and international network, which includes branches, subsidiaries and representative office in New York, London, Paris, Geneva, Lebanon, Amman, Bahrain, Qatar, Iraq, Singapore, Vietnam and Shangai, with other ambitious plans of regional and global expansion.
