Qatar Islamic Bank profit grows by 11.6% to QR2.4bn in 2017 - The Peninsula Qatar

Qatar Islamic Bank profit grows by 11.6% to QR2.4bn in 2017 - The Peninsula Qatar:

"Qatar Islamic Bank’s (QIB) net profit attributable to shareholders stood at QR2.4bn for the fiscal year 2017, an increase of 11.6 percent compared to QR2.15bn reported for the year 2016. QIB’s basic earnings per share reached QR9.31 compared to QR8.55 in December 2016. In line with the improved profitability, QIB Board of Directors proposed a higher dividend distribution to shareholders of QR5 per share i.e. 50 percent of the nominal share value, subject to approval of Qatar Central Bank and General Assembly. Total Assets of the bank has increased by 7.5 percent compared to 2016 and now stands at QR150bn driven by a robust growth in the financing and investing activities. The bank’s financing activities reached QR102.6bn having added QR4.4bn, representing a 4.5 percent growth over 2016. Investment securities have now reached QR30.4bn having added QR10.4bn, representing a 52 percent growth over 2016. Customer Deposits of the Bank have registered a strong growth of 6.7 percent compared to 2016 and stood at QR101.8bn improving the bank’s financing to deposit ratio."



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