(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.