QIB's 2011 net profit up eight per cent

22/02/2012 21:40 AST

QIB has achieved net profits reaching QAR 1.365 billion for the year 2011, an increase of eight per cent compared to 2010.

There was an 18 per cent increase in net operating income which reached QAR 2.68 billion at the end of 2011 compared to QAR 2.28 billion in the corresponding period of last year.

The bank's total equity reached QAR 11.2 billion by end of 2011, an increase of 24 per cent against same period of 2010.

The increase in net profit was the result of the growth in investment income which amounted to QAR 631million at the end of 2011 compared to QAR 214 million for the corresponding period.

Return on Average Equity (ROAE) stood at 16 per cent. Earnings per share (EPS) - basic and diluted -at QAR 5.87 were on par with the same period of the previous year.

Net financing & investing income was QAR2.4 billion and grew by QAR 442 million or 22 per cent from 2010. Fee income was QAR 300 million compared to QAR 289.2 million in 2010 showing a YOY increase of 3.8 per cent.

Unrestricted Investment Account (URIA) holders' share of profit was QAR 410million compared to QAR 447 million in 2010 a decrease of 8 per cent. Also Sukuk-holders' share of profit was QAR105.8million at the end of 2011 compared to QAR 24.5 million in 2010.

The total assets of the bank stood at QAR 58.3 billion, a growth of 12.4 per cent compared with QAR 51.9 billion in 2010. The group Return on Average Assets (ROAA) stood at 2.5 per cent.


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