#Qatar Islamic Bank Q4 profit rises 19 pct | Reuters

Qatar Islamic Bank Q4 profit rises 19 pct | Reuters:

Qatar Islamic Bank (QIB), the Gulf state’s largest sharia-compliant lender by assets, reported a 19 percent rise in fourth-quarter net profit, according to Reuters calculations, narrowly beating analysts’ forecasts.

It made a net profit of 750 million riyals ($206.0 million)during the three months to Dec. 31, compared with 630.2 million riyals in the same period a year earlier, Reuters calculated from financial statements in the absence of a quarterly earnings breakdown.

An average of three analysts polled forecast the bank would make a quarterly net profit of 682.2 million riyals, according to Refinitiv data.