(The Group's Comments) QIB Net Profit Climbs to QR 685.2 Million in Q1 2019

April 17, 2019

Earnings: Qatar Islamic Bank (QIB) net profit amounted to QR 685.2 million in the first quarter of 2019, compared to QR 625.3 million for the same period last year, an increase of 9.6%, while its earnings per share reached QR 2.90 in this period, versus QR 2.65 for the corresponding period of 2018.

Operating Income: amounted to QR 1849.5 million by the end of the first quarter of 2019, an increase of 135% compared to QR 1,636.1 million for the same period of 2018. This improvement was due to a net increase in financing and investment income of QR 235.1 million or 16.3%, which softened the blow of the QR 26 million fall in foreign currency profits.

Expenditures: stood at about QR 553 million, a drop of 2.20% compared to QR 565.5 million for the corresponding period of 2018. In terms of allocations, the total losses of impairment of investment and financing amounted to about QR 208.3 million in the first quarter of 2019, compared to QR 221.7 million for the same period in 2018.

Assets: increased by 1.4% to QR 155.3 billion compared to QR 153.2 billion at the end of 2018, while financing assets rose by about QR 4 billion, and investment accounts climbed by QR 7.5 billion compared to the end of 2018. The ratio of financing assets to investment accounts is 114.7% compared to 120% by the end of 2018.