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.