16/04/2018 07:48 AST

QIIB has earned a net profit of QR253.2mn in the first quarter of the year, up 7.1% on QR236.5mn registered in the same period last year. Announcing QIIB’s first-quarter results, QIIB vice-chairman Sheikh Abdullah bin Thani bin Abdullah al-Thani said, “The bank is working relentlessly to take advantage of the great opportunities being offered by the Qatari economy. Recent developments have shown that ours is a strong economy that is able to meet all challenges and achieve growth rates that are considered the best in the region, thanks to the unlimited support and guidance of His Highness the Emir Sheikh Tamim bin Hamad al-Thani.”

Sheikh Abdullah said, “The challenges are often transformed into opportunities, a fact that QIIB has shown by being strongly and increasingly involved in the financing of various projects under execution at the local level, whether large projects, infrastructure projects or small and medium enterprises. The first-quarter financial results actually reflected the success of the bank in its strategy, which primarily focuses on the local market.”

QIIB chief executive officer Dr Abdulbasit Ahmed al-Shaibei said, “QIIB’s total revenues amounted to QR517.3mn in Q1, 2018 compared with QR460mn at the end of the first quarter of 2017, which represents a growth rate of 12.5%.”

He said the bank’s total assets at the end of the first quarter rose by 11.3% and reached QR50.4bn compared with QR45.3bn in Q1, 2017. The total deposits reached QR31.1bn, up 11.6% on the same period last year.

Capital adequacy (Basel III) stood at 16.91 %, reflecting the strength of the bank’s financial position and its prudent risk management policy. Dr al-Shaibei said, “These results reflect the efforts made and the systematic implementation of the board’s plans, which have resulted in a continuous improvement in various indicators. Such an improvement has become possible due to the inherent strength of the Qatari economy and its banking sector.” “QIIB has been able to maintain its stable growth and various market indicators point to the fact that the period ahead will be even more promising, given the incredible opportunities being provided by the Qatari economy that provides the banking sector a solid platform to operate and achieve more growth,” the CEO noted.

The CEO highlighted that “The failure of the blockade in achieving any of its objectives has given the Qatari economy and the banking sector a strong push forward. We have proved that challenges create great opportunities, and it is expected that the Qatari economy will continue to achieve remarkable growth, deemed to be among the best in the region.”

He said, “QIIB continues to focus strongly on the local market by participating in the financing of various projects and its engagement with various sectors, particularly the small and medium enterprises (SMEs), a segment which is very important for the development of the national economy. During the first quarter of 2018, we renewed ‘Al Dhameen’ project agreement with Qatar Development Bank (QDB), which facilitates financing SMEs.”

The CEO confirmed that “QIIB will continue with its development plans in the coming period, taking into account customer needs and to achieve a wider customer base. QIIB will continue restructuring its nation-wide branch network to provide more accessibility and convenience to its growing customer base. Our branch at the City Center is fast nearing completion and will be formally opened soon. We are also working on opening our new branch at The Mall, Al Hilal, and Ezdan Al Wakrah Mall this year. We have further improved the functioning of our Call Center.”

Gulf Times

QIIB first half net profit grows by 4% to QR484m


Leading Islamic lender QIIB has recorded a net profit of QR484m for the first half of 2018 (H1, 2018), up 4 percent, compared to QR465m posted during the same period in 2017. The bank’s total revenue

The Peninsula

Moody’s raises QIIB outlook to stable


QIIB announced that Moody’s has affirmed the bank rating at A2 and changed its outlook to stable, reflecting the strength of the Qatari economy in its various institutions, especially the banking sec

The Peninsula

QIIB extends support to Qatar Academy


A team of Qatar Academy’s outstanding students will be flying to Addis Ababa, Ethiopia, in October to prepare select students of Lebawi Academy (International Leadership Academy of Ethiopia - ILAE) f

The Peninsula

Ticker Price Volume
QNBK 175.00 253,804
SABIC 118.60 3,051,555
WALAA 23.70 381,943
SACO 71.00 167,636
STC 81.90 322,056
EEC 17.96 1,356,411
ALMARAI 48.20 592,230
QIIK Sector Market
Dividend Yield (%)
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
QNBK 175.00 1.00 (0.57%)
QIBK 135.90 -1.10 (-0.81%)
MARK 38.38 0.38 (1.00%)
CBQK 39.50 0.50 (1.28%)
DHBK 23.75 -0.15 (-0.63%)
Clariant and SABIC deepen ties under new partnership


Switzerland’s Clariant and new anchor shareholder Saudi Basic Industries Corp. (SABIC) will merge their high-performance materials businesses and install a SABIC manager as head of the group as they

Arab News

Alizz Islamic inks pact with Takaful Oman


Reinforcing its position as one of Oman's most innovative Islamic banking institutions, Alizz Islamic Bank signed a Memorandum of Understanding (MoU) with Takaful Oman, the Sultanate’s first full-fle

Times of Oman

Du inks deal with ADGM


Dubai-based telecom operator du has announced a new partnership with the Abu Dhabi Global Market (ADGM) to facilitate its digital transformation agenda.

The MoU sets a formal framework for

Gulf News

Barwa Real Estate takes part in Qatar-Russia 2018 Year of Culture


Barwa Real Estate Group, one of the leading real estate and investment companies in Qatar and the region, participated in the Qatar-Russia 2018 Year of Culture, where a seminar entitled “Qatar: No Li

The Peninsula

Saudi Aramco unit hosts first graduation ceremony


Saudi Aramco, a world leader in integrated energy and chemicals, said one of its units, Saudi Arabian Drilling Academy (Sada) held its first graduation for a cohort of 132 students representing 34 dr

Trade Arabia