QIB Net Profit in Q1, 2017 Rises 12.8% to QR 555 Million

April 17, 2017

Qatar Islamic Bank disclosed the interim financial statement for the three-month period ended March 31, 2017. The financial statements revealed a net profit of QR555 Million in comparison to net profit QR 492 Million for the same period of the previous year.

The Earnings per Share (EPS) per share amounted to QR 2.13 As of March 31, 2017 versus EPS per share QR 1.98 of the same period in 2016.

The Group's Comment

Qatar Islamic Bank's total income increased by 16.3% to 1496.4 million in the first quarter of 2017, including QR1325.8 million as investment and financing revenues. In contrast, total expenses dropped by 1.6% to QR311.2 million, including QR152.2 million as staff cost which fell by 6.5%. The losses, incurred as result of a decline in investments and financing, increased by 56.2% to QR176 million.  The share of unrestricted investment deposits account holders increased by 26.4% to QR439.4 million. As result, net profit posted in this period rose by 12.8% to QR 555.4 million.