QIB profit grows 9.1 percent to QR750m in first quarter

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Doha

Qatar Islamic Bank (QIB), Qatar’s leading Islamic Bank, yesterday announced that its net profit attributable to the shareholders of the Bank amounted to QR750m for the three months’ period ended March 2021, representing a growth of 9.1 percent over the same period in 2020.

Total Assets of the Bank has increased by 8.5 percent compared to March 2020 and 3.4 percent compared to December 2020 and now stands at QR180bn driven by the continued growth in the financing activities.

Financing activities have now reached QR125bn having grown by 9.8 percent compared to March 2020 and up by 5.1 percent compared to December 2020.

Customer Deposits of the Bank now stand at QR126bn registering a growth of 14.3 percent compared to March 2020 and up by 6.6 percent compared to December 2020. — The Peninsula