(The Group’s Comments) QIB’s Net Profit Rises to QAR 1,425.3 Million in the First Half of 2019

July 17, 2019

·         Profits: Qatar Islamic Bank’s (QIB) profits amounted to QAR 1,425.3 million in the first half of 2019, compared to QAR 1,325.3 million for the same period of 2018, an increase of 7.5%, while QIB’s earnings per share reached QAR 0.60 versus QAR 0.56 and the second quarter profits grew by 5.7% to QAR 740.1 million.

·         Operating Income: reached QAR 3,734.8 million in the end of the first half, compared to QAR 3,367.7 million for the same period in 2018, an increase of 10.9%, due to an increase in financing and investment income of QAR 405 or 13.60%.

·         Expenses: climbed by 5% to QAR 725 million, while Sukuk holders' share of profits increased by QAR 67 million and losses on financial investments decreased by 30% to QAR 86 million, compared to QAR 122 million in the first half of 2018.

·         Assets: Financial assets increased by 6.7% to QAR 106,955 million, compared to the corresponding period of 2018. These assets constitute about 69.2% of the total assets of the bank. Regarding the quality of the assets, the ratio of unindexed debt reached 1.2% of the total loan portfolio, and the ratio of allocation coverage reached about 165%.