QInvest posts QR209m revenue in first half

07/08/2017 06:14 AST

QInvest, Qatar’s leading private investment group and one of the region’s most prominent Islamic financial institutions, reported a revenue of QR209m ($ 57m) from all its as of June 30, 2017.

QInvest’s operating profit stood at QR113m ($31m) and net profits at QR34.6m ($ 9.5m). The bank’s global assets stood at QR4.7bn ($1.29bn).

With diversified investment activity across sectors and geographies, QInvest’s prudent strategic approach, stringent provisioning policy and underleveraged balance sheet has provided stability amid regional uncertainties. The bank maintains a healthy capital adequacy ratio with strong liquidity to invest in promising investment opportunities.

Tamim Hamad Al Kawari, (pictured) Chief Executive Officer of QInvest, said: “While the second quarter of 2017 has been notable for adverse market conditions in the region, QInvest has again delivered profitable performance, demonstrating the sustainability and resilience of our business strategy. We remain prudent in our management of risk and have built up a strong liquidity position and an underleveraged balance sheet while also continuing to invest in key global markets on an opportunistic basis. Our primary focus is to ensure that our business lines continue to deliver value for clients and shareholders at a time when they are counting on us the most.”

QInvest has a number of updates across its three key business lines - Investment Banking, Asset Management, and Principal Investments, which focuses on real estate, credit and equity investment. QInvest completed a number of transactions and advisory mandates during the first half of 2017. The bank acted as a sole advisor to a Qatari entity on its $220m investment into a leading Turkish retail group, and as sole advisor to a consortium of investors on the acquisition of a $1.12bn stake in Arab Bank Plc.

In the debt markets, QInvest acted as joint lead manager and bookrunner on a number of Sukuk issuances, including Dar Al Arkan’s 5-year $500m senior Sukuk issuance, Ezdan Holding Group’s 5-year $500m senior Sukuk issuance, Al Baraka Group’s successful debut with a $400m perpetual additional tier I Sukuk issuance and QIB’s highly successful $750m Sukuk issuance.

QInvest continued to manage its joint bid with Atlas Merchant Capital LLC to take one of the bank’s strategic investment private and reposition it as a key specialized company in the UK market. The transaction was recommended by the Independent Directors of the Board of the strategic investment and recently received 99.94 percent approval in the relevant shareholder General Meeting.

On the Credit Investments front, QInvest continues to seek investment and co-investment opportunities for shareholders and clients. The Credit Investments team’s strategy is to deliver superior risk-adjusted returns with a focus on portfolio diversification, value maximizing rotation and liquidity optimization.

During the first half, QInvest deployed almost $65m across several investments in different sectors, mostly in regional and emerging markets. Moreover, the bank has realised returns for its own capital, and the capital of co-investors, from some of these portfolio investments.

The Peninsula