QIB reports QR1,815m net profit for six months – The Peninsula

QIB reports QR1,815m net profit for six months – The Peninsula

Doha: 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 QR1,815m for the six months’ period ended 30 June 2022 representing a growth of 13.8 percent over the same period in 2021.

Total Assets of the Bank has increased by 4.8 percent compared to June 2021 and now stand at QR193bn, driven by the growth in investing activities. Customer Deposits of the Bank now stand at QR129bn higher by 3.2 percent compared to June 2021.

Total Income for the six months’ period ended 30 June 2022 was QR4,284m registering a growth of 4.2 percent compared to QR4,112m for the same period in 2021. Income from financing and investing activities registered a growth of 6.1 percent to reach QR3,760m for the first half of 2022 compared to QR3,543m for the same period of 2021.

Total Operating Expenses for the six months’ period ended 30 June 2022 was QR540m 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 16.8 percent from 17.5 percent for the same period in 2021, which