QIB posts profit of QAR 1815mln for the six months’ period ended 30 June 2022

QIB posts profit of QAR 1815mln for the six months’ period ended 30 June 2022

Doha, Qatar: Qatar Islamic Bank (QIB) has announced the results for the six months’ period ended 30 June 2022. Net Profit attributable to the Shareholders of the Bank amounted to QAR 1,815 Million for the six months’ period ended 30 June 2022 representing a growth of 13.8% over the same period in 2021.

Total Assets of the Bank has increased by 4.8% compared to June 2021 and now stand at QAR 193 Billion, driven by the growth in investing activities. Customer Deposits of the Bank now stand at QAR 129 Billion higher by 3.2% compared to June 2021.

Total Income for the six months’ period ended 30 June 2022 was QAR 4,284 Million registering a growth of 4.2% compared to QAR 4,112 Million for the same period in 2021. Income from financing and investing activities registered a growth of 6.1% to reach QAR 3,760 Million for the first half of 2022 compared to QAR 3,543 Million for the same period of 2021.

Total Operating Expenses for the six months’ period ended 30 June 2022 was QAR 540 Million with strong operating income generation and cost containment enabling the Bank to further improve its efficiencies and bringing down the cost to income ratio to