Qatar Islamic Bank Net Profit Rises to QR2 Billion in Q3 2018

October 18, 2018

Qatar Islamic Bank (QIB) net profit amounted to QR2 billion, compared to QR1.77 billion for the same period last year, while the bank’s earnings per share recorded QR8.49, versus QR7.51 for the corresponding period of 2017.

The Group’s Comments:

QIB's revenues for the nine months ended on 30/9/2018 rose by 8.2% to QR5.1 billion, of which QR4.53 billion generated from financing and investments, while total expenses increased by 4.4% to QR1,040.6 million, of which QR482.7 million went to staff costs. QIB’s assets recorded a decrease of QR556 million, and the share of deposit holders in profit amounted to QR1547.6 million, an increase of 17.2% compared to the corresponding period of 2017, although the balance of these deposits increased by only 3.5%. As a result, the bank’s net profit increased by 13% to QR 2,005 million.