Leading Qatari private bank IBQ has opened a new branch at Lagoona, Qatar’s newest retail destination located at the heart of the prime Lusail district.

With this new branch, which is a relocation of its existing branch at Alfardan Towers, IBQ will expand its personalised banking services to the residents of Lusail City’s gateway in addition to those in the wider West Bay area of Doha, The Pearl-Qatar and West Bay Lagoon residential complex.

Operating convenient and flexible hours, the IBQ Lagoona Branch will offer a full range of products and services including account management, account opening, financing facilities, elite banking and a 24-hour ATM for cash withdrawals and deposits in addition to IBQ’s line-up of products such as the IBQ cash back credit cards, super savings account range, and competitive loan offerings.

With 128,000 sq m of finely designed space, Lagoona is Qatar's newest retail avenue offering Qatari residents an exciting assortment of lifestyle brands, a statement from the bank said.

Philip King, assistant general manager of retail banking at IBQ, said: “Our new IBQ Lagoona Branch reiterates our commitment to offer our premium personalised banking experience and superior solutions through a full retail platform that is accessible and convenient to various communities across Qatar.”

“This branch will serve the complete area of West Bay, one of the most important, prestigious and fastest-growing business and residential districts in the country. The opening also complements our existing presence in the area,” he said.

IBQ achieved considerable growth in 2010 with net profits reaching QAR 458m up by 34 per cent from 2009 and with an annual operating income increasing by 27 percent to reach QAR 853m as compared to QAR 670m in 2009.

The bank has also won accolades this year for its performance including, ‘Best Retail Bank 2011’ from Arabian Business and ‘Best Customer Service in the Middle East’ from Banker Middle East for the fourth year in a row, the statement said.

In June 2009, IBQ was also recognised as ‘the fastest moving bank in the Middle East in The Banker magazine's Top 1,000 World Bank survey 2009. – TradeArabia News Service