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(Group’s
Comments) QIB Net Profit Rises 11.6% to QR2.40 Billion,
Recommends Dividends of 50%
Qatar Islamic
Bank recorded a net profit of QR2,405 million in 2017, compared
to QR2,155 in 2016, while its earnings per share amounted to
QR9.31, compared to QR8.55. The Bank’s Board recommended
distributing cash dividends of QR5 per share.
The Group’s Comments
QIB's total
revenue increased by 13% to QR6.2 billion, QR5.46 billion of
which was generated by financing and investments. The Bank’s all
expenses increased by 6.3% to QR1.32 billion; QR622.4 million
went to personnel expenses, QR218.4 million to Sukuk holders.
Deducting QR1818.6 million of unrestricted investment accounts
holders, the net profit for the year rose 11.6% to QR2405.4
million.
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