Qatar’s QIIB first quarter net profit jumps 7.1% to $95mln

Qatar’s QIIB first quarter net profit jumps 7.1% to $95mln

Qatar - QIIB has posted a first quarter (Q1) net profit of QR316mn, up 7.1% on the same period last year.

In Q1, 2022 QIIB had registered a net profit of QR295mn.

The results were announced by QIIB chairman Sheikh Abdullah bin Thani bin Abdullah al-Thani after a meeting of the bank’s board of directors here Monday.

Sheikh Abdullah stated, “QIIB’s results for the first quarter of 2023 reflect the bank’s progress and growth. We rely on the strong local business environment that provides us with the necessary opportunities to achieve stable and continuous growth.

“This positive environment laden with opportunities offered by the Qatari economy, has encouraged us to exert suitable efforts to make the best out of it. On account of such great efforts, we managed to keep up with the uplift of the Qatari economy, which is witnessing a boom in various fields thanks to the support, care and guidance of His Highness Sheikh Tamim bin Hamad al-Thani, the Amir of the State of Qatar.”

“The positive indicators in the market and the great trust in the State of Qatar have helped us move forward and have cast a positive view on the business sector in the first quarter. In addition, the