QIB posts profit of QAR 2,525mln

QIB posts profit of QAR 2,525mln

Qatar Islamic Bank (QIB) has announced the results for the nine months’ period ended 30 September 2021. Net Profit attributable to the Shareholders of the Bank amounted to QAR 2,525 Million for the nine months’ period ended 30 September 2021 representing a growth of 13.9% over the same period in 2020. Total Assets of the Bank now stands at QAR 186 Billion higher by 6.7% compared to December 2020 with a growth of 9.4% compared to September 2020 driven by the continued growth in the financing and investing activities. Financing activities have now reached QAR 127 Billion having grown by 6.7% compared to December 2020 and a growth of 12.3% compared to September 2020. Customer Deposits of the Bank now stand at QAR 129 Billion higher by 9% compared to December 2020 and a growth of 15% compared to September 2020. QIB has been able to bring down the Finance to Deposit ratio to 99% compared to 101% end of December 2020. Total income for the nine months’ period ended 30 September 2021 was QAR 6,124 Million compared to QAR 5,962 Million for the same period in 2020 registering a growth of 2.7%. Income from financing and investing activities was