QIIB third quarter net profit scales up 5.5% to QR1,098mn

15/10/2025 02:44 AST

QIIB has posted a net profit of QR1,098mn at the end of the third quarter in September, which represents a growth rate of 5.5% compared to the same period last year.

The results were announced by QIIB Chairman Sheikh Dr Khalid bin Thani bin Abdullah al-Thani following a meeting of the bank's Board of Directors here.

Sheikh Dr Khalid stated: "We are pleased to announce an outstanding performance for the third quarter of 2025. This is the result of continuous effort and a balanced strategy built on solid foundations in management, governance, and risk control, we are committed to further strengthening QIIB's financial position in line with the resilience and growth of Qatar's economy, which continues to flourish under the wise vision and leadership of His Highness Sheikh Tamim bin Hamad al-Thani, the Amir of the State of Qatar, may God protect him."

"Indicators confirm that QIIB is steadily progressing towards achieving its strategic goals, maintaining full adherence to the highest standards of Islamic banking. We continue to invest in developing national talent and enhancing our digital capabilities to meet customer aspirations and market needs.

"The bank has continued to consolidate its strong position, maintaining high credit ratings from leading international rating agencies, who have praised our solid financial standing, capital adequacy, asset quality, and stable funding and liquidity. These results reflect a sound balance between ambition, growth, and prudent risk management."

Sheikh Khalid noted, "The bank's ongoing efforts to raise operational efficiency and reduce costs through expanding digital services. The significant advancements in our digital banking ecosystem have positively impacted operational performance, boosted profitability, and supported growth momentum."

QIIB Chief Executive Officer Dr Abdulbasit Ahmad al-Shaibei stated that total revenues reached QR2.6bn, while total assets rose to QR60.5bn compared to the same period last year, the financing assets increased by 5.8% to reach QR41bn.

"Customer deposits reached QR42.3bn, representing a growth rate of 3.2%, while total equity amounted to QR9.9bn, reflecting a growth of 4.4% compared to the same period last year, achieving steady growth.

"Operational efficiency maintained its strong performance at 18.4% as a one of the most impressive ratios within the Qatari banking sector. Additionally, the ratio of non-performing financing assets reduced to 2.9%, while non-performing financing assets coverage ratio increased to 100% and the capital adequacy ratio stood at 20.8%, exceeding Qatar Central Bank's regulatory requirements reflecting QIIB's solid financial position and its success in effective risk management."

Dr al-Shaibei noted, "During this period, we focused on implementing our Board of Director's directives aimed at enhancing operational performance and improving service quality. The digital transformation journey continued to progress positively, with an increasing proportion of services now delivered through the bank's multiple electronic channels, enhancing customer experience and operational efficiency."

He affirmed that QIIB "remains focused on the local market and continues to co-operate with various economic sectors to finance a diverse range of projects, with special attention to large, medium, and small enterprises given their vital role in driving development."

"In 2025, QIIB continued to earn recognition from prestigious institutions for its outstanding performance, achievements in digital transformation, advancement of Islamic banking, and commitment to sustainability - receiving several notable awards in these areas."

With regard to human resources, Dr al-Shaibei said, "The bank places great importance on attracting, training, and developing Qatari talent. We take pride in being one of the leading institutions in localisation and empowerment of Qatari professionals, a commitment that has earned us official recognition on several occasions."

On corporate social responsibility, the CEO reaffirmed, "The bank will continue to play its role in serving the community by supporting social, educational, sports, cultural, and health initiatives, in line with its social responsibility and dedication to contributing to sustainable development."

Gulf Times