QIIB half yearly net profit jumps 7.7% : Qatar

QIIB half yearly net profit jumps 7.7% : Qatar

QIIB posted a half yearly net profit of QR615mn, up 7.7% on the same period last year, the prominent Islamic bank announced Tuesday.

Earnings per share (EPS) reached QR0.41 at the end of the half year period on June 30, QIIB said.

QIIB chairman Sheikh Abdullah bin Thani bin Abdullah al-Thani said, “QIIB indicators as outlined by the financial results announced for the period ending on June 30, 2023 are aligned with Qatar’s strong economy, which possess the best levels of solvency regionally and internationally.

“Backed by the support of His Highness Sheikh Tamim bin Hamad Al-Thani, the Amir of the State of Qatar, Qatar’s economy will continue to achieve the best opportunities and growth for various economic sectors in the country, particularly the banking sector.

“QIIB’s H1 results clearly reflect the bank’s success in implementing its strategy to strengthen its indicators and respond to the various market factors, whether relating to different risks and challenges or competition. We have already witnessed increased demand for our services and products and a rapid expansion in our retail and corporate client base”.

Sheikh Abdullah noted, “QIIB has maintained its leading position in the banking market, its outstanding performance, and good growth figures, which reflect its high credit