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QIB Net Profit Rose by 13.75% to QR1.32
Billion for the First Half of 2018
July 15, 2018
QIB’s net profit for the first half of 2018
amounted to QR1.32 billion, compared to QR1.16 billion for the
same period last year, while the bank’s earnings per share
recorded QR5.61 in the first half of 2018, compared to QR4.93 in
the same period in 2017.
The Group’s Comments:
QIB's operating income increased by 7% to
QR3.37 billion in the first half of 2018, and its total expenses
increased by 6.96% to QR690.3 million, of which QR321.3 million
for personnel costs. The bank recorded a net loss in value of
financial investments and assets of QR388.6 million, and the
share of restricted investment holders increased to QR1,000
million. The result is an increase of 13.7% in the net profit
attributable to shareholders to QR1.32 billion.
It is worth mentioning that the bank’s total
assets increased by 3.8% compared to the corresponding period in
2017, to QR152.5 billion, noting that this increase occurred in
the category of financial investments, since financing assets
decreased by 8.6% to QR100.3 billion, real estate investments
fell by 10.6% to QR1.3 billion, while financial investments
increased by 51% to QR 30.4 billion.
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