Qatar Islamic Bank Profits in Q3, 2017 Rise 10% to QR 1.77 Billion

Earnings per Share (EPS) amounted to QR 7.51

October 18, 2017

Qatar Islamic Bank (QIB) net profit in the third quarter 2017 amounted to QR 1,775 Million compared to net profit of QR1, 605 Million in the corresponding period last year.

The Earnings per Share (EPS) amounted to QR 7.51 versus QR 6.58 in the corresponding period in 2016.

The Group Securities Comment:

QIB total revenues for the nine months rose by 16.2% to QR 4.72 Billion, of which QR 4.18 Billion were net financing and investment activities. Total expenses increased by 6.1% to QR 996.5 Million, of which QR 462.6 Million were staff costs, QR 165.4 Million Sukuk holders' dividends and QR 300.4 Million were other expenses. Losses of investment and financing doubled to QR 625 Million from QR 358.2 Million in the corresponding period last year. Note that the share of unrestricted deposit accounts holders in the profits increased by 9.8% to QR 1320.3 Million, although the balance of these deposits remained stable at QR 81.34 Billion with no change. As a result, QIB net profit increased by 10.6% to QR 1775.2 Million.