International Bank of Qatar (IBQ) posted a net profit of QR747.2mn in 2018, compared with QR555.1mn registered in the previous year. 
In addition to a “very strong” operating performance that saw 15.3% growth in net profits, the bank benefited from one off non-recurring transactions that increased the final figure to QR747.2mn. 
The IBQ balance sheet last year grew 6.3% on December 2017 to QR35.2bn. 
IBQ’s “strong” performance can be attributed primarily to its strategy to exclusively focus on the Qatar domestic market, and put all its efforts in serving to the highest standards its exceptional client base. 
All business segments, this year again, positively contributed to year-on-year total income growth. 
IBQ’s return on average assets (ROAA) of 2.3% 2018, and return on average equity (ROAE) of 16.5%, representing a 27.8% and 36.4%, improvement on 2017 respectively, emphasising the “strong” performance of 2018.
On IBQ’s 2018’s performance, Omar Bouhadiba, managing director said, “These results highlight the resilience of IBQ and the strength of its Qatar focused business model. We continued achieving our set long-term objective to deliver to the shareholders sustainable quality double digit net profits growth. 
“The quality and sustainability of this growth, basically driven by non-interest income, is highly satisfying. Risk was managed very competently by our teams, and reliance on the volatile interbank funding was tremendously reduced to be replaced with customer deposits.” 
IBQ chairman Sheikh Hamad bin Jassim bin Jabor al-Thani said, “I am delighted with the excellent results achieved by IBQ in 2018, notwithstanding the complex operating environment experienced in Qatar. IBQ is in a strong financial position and will add immediate benefits to the imminent merger with Barwa Bank.”