QIIB net profit reaches $320mln with growth rate of 8.3% in 2023

QIIB net profit reaches $320mln with growth rate of 8.3% in 2023

Doha, Qatar: Chairman of QIIB Board of Directors, Sheikh Abdullah bin Thani bin Abdullah Al Thani, announced the bank’s 2023 year-end financial results here yesterday.

These results indicate continued achievement of the Bank’s outstanding growth across various financial performance indicators.

The announcement of the results came after a meeting of the Board of Directors chaired by Sheikh Abdullah bin Thani bin Abdullah Al Thani that discussed the year-end financial statements for the fiscal year, which ended on December 31, 2023.

QIIB achieved a net profit of QR1.16bn, marking a 8.3% growth compared to 2022, with earnings per share reaching QR0.7.

QIIB’s Board of Directors has recommended to the General Assembly of Shareholders the distribution of a cash dividend of QR0.45 per share (equivalent to 45% of the share’s par value).

This recommendation follows the consent of Qatar Central Bank (QCB) approval of the bank’s 2023 financial statements.

Commenting on these results, Sheikh Abdullah bin Thani affirmed, “QIIB has achieved outstanding results during the past year, further strengthening its financial indicators. The bank’s strategy succeeded in maintaining a focus on the Qatari market, while leveraging the abundant opportunities offered by the Qatari economy, which continues to demonstrate superior performance, thanks to the support and guidance of H