QIIB has posted a first-half net profit of QR465.3mn, up 5% on the same period last year. 
The premier Islamic bank’s H1 results were announced by QIIB chairman and managing director Sheikh Dr Khaled bin Thani bin Abdullah al-Thani in Doha yesterday.
“At the end of the first half of 2017, QIIB earned a net profit of QR465.3mn compared to QR443.1mn in the same period last year, and has therefore witnessed a growth of 5%. This indicates that the bank could benefit from the Qatari economy, which is seeing constant growth thanks to the support and care of HH the Emir, Sheikh Tamim bin Hamad al-Thani.” 
He said, “QIIB forms part of the Qatari banking sector, which supports and contributes to the development of different economic sectors, all constituting an integral system that boosts the national economy. This creates a suitable environment for business and growth with numerous opportunities, and facilitates betterment of all segments of the Qatari society.”
“QIIB keenly follows national economic developments and establishes a strategy that is in conformity with these. It also ensures the implementation of the various plans and strategies developed at local and overseas levels while applying the best standards accepted worldwide in banking, be in terms of management governance or following the most precise and apt risk policies in a way to achieve the desired results and objectives,” Sheikh Dr Khaled said.
QIIB acting CEO Jamal al-Jamal said, “The bank’s revenues for the first half of the year 2017 reached QR910mn compared to QR817mn in the same period last year, which represents a growth of 11.4%”
 “QIIB’s total assets reached QR45.9bn at the end of the first half of this year compared to QR42.3bn in the same period in 2016, which denotes a growth rate of 8.5%.
“The size of QIIB funding portfolio increased at the end of the first half of the year 2017 to reach QR28.7bn compared to QR26.7bn in the same period in 2016, which means that the bank has achieved a growth rate of 7.5%”, he said.
QIIB’s capital adequacy (Basel III) reached 17.6%, and reveals the bank’s strength and the usefulness of its policy in terms of risk mitigation.
Al-Jamal said, “QIIB results show that the bank succeeded in adapting itself to the different factors of the market, whether in terms of the risks or the competition, whereas the bank could maintain a stable pace of growth for a long time, and maintain strong indicators on the various items of the balance sheet”.
He further said, “We are endeavouring to contribute to financing different projects and are giving special attention to infrastructure projects, which remains a strategic priority for us. We have made great strides with regard to SME funding, and have a leading position in the local banking sector in terms of funding such enterprises, especially through our effective and fruitful partnership with Qatar Development Bank, knowing that the returns of such projects are greatly reflected on the society”.
“QIIB is adequately responding to the expansion of its customer base and to the market developments, under which the bank has been working on the implementation of its plan regarding restructuring of our local branch network, in a way to be closer to our customers and strongly present in the commercial world”.
Al-Jamal said, “The first half of this year witnessed a great development as Umina Bank in Morocco saw commencement of its operational activities. The bank is the result of a partnership among QIIB, the Moroccan Real Estate and Tourism Loan Bank (CIH), and the Deposit and Management Fund (CDG). The bank’s operations were launched through branches in Casablanca and Rabat, and will be expanded to different regions of Morocco, providing innovative and world scale banking products and solutions to customers across the kingdom.”




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