QInvest, Qatar’s leading private investment group and one of the world’s most prominent Islamic financial institutions, is witnessing stronger demand for transactions in Germany, the UK and the US and said it will continue to offer superior risk-adjusted products this year.
“We are seeing strong demand for our transactions in Germany, the UK and the US that we are currently marketing and expect some of our older vintage transactions to realise impressive returns within the year,” QInvest chief executive Tamim Hamad al-Kawari said at the annual general assembly meeting, where it approved doubling of dividends and net profit of QR154mn.
Highlighting that 2015 was a record year for QInvest and the strategy it set three years ago is working; he said the bank has achieved every one of its objectives, not only in terms of financial performance but also in terms of creating value for clients and shareholders.
“We are entering 2016 with a focus on continuing to offer superior risk-adjusted products to our clients,” he said. The bank demonstrated consistent performance throughout 2015 and recorded its highest revenue since its inception of QR393mn, up 32%, and net profit of QR154mn, up 76%.
Despite challenging global economic conditions and regional market volatility, QInvest chairman Sheikh Jassim bin Hamad bin Jassim bin Jaber al-Thani said 2015 was a year of very strong performance and all of its three revenue-generating business lines continued to deliver in line with expectations.
“We remained focused, since the launch of our strategy in 2013, on delivering high value propositions supported by innovative Shariah-compliant financial solutions. We have approved the doubling of shareholders’ dividends and we look forward for an exciting 2016,” he said.
The bank had previously announced the conclusion of a five-year $200mn ‘Murabaha’ facility with a syndicate made-up of local and international investment banks, demonstrating its strength and setting an excellent benchmark for future borrowing.
QInvest board of directors addresses the shareholders at the AGM. The bank demonstrated consistent performance throughout 2015 and recorded its highest revenue since its inception of QR393mn, up 32%, and net profit of QR154mn, up 76%.
