21/01/2016 07:57 AST
QInvest, Qatar’s leading investment group yesterday announced another year of robust growth recording its highest revenue since inception of QR393m ($108m) and net profit of QR154m ($42m).
QInvest generated consistent performance throughout 2015 despite challenging global economic conditions and regional volatility, culminating in an increase in both revenues and net profit of 32 percent and 76 percent respectively. The bank recommends doubling the dividend to shareholders for financial year 2015.
Tamim Hamad Al Kawari (pictured), Chief Executive Officer of QInvest, said: “2015 was a record year for QInvest and the culmination of the strategy we set three years ago. The bank has achieved every one of its objectives, not only in terms of financial performance but also in terms of creating value for clients and shareholders. All our three revenue generating divisions are delivering robust growth and are backed by a solid balance sheet. Our debut $200m long-term syndicated facility, arranged by our key regional and international relationship banks, strengthens further our capital base.”
Al Kawari Added: “We are entering the New Year launching the next phase of our strategy, which is centred on the execution of high quality international and regional transactions and the provision of innovative and value enhancing products to both shareholders and our expanding client base. Looking ahead, we expect the global economy to continue to be challenging but we will remain focused on transactions that fit within the bank’s overall risk-return profile coupled with prudent monitoring of our existing investments.”
The Investment Banking division had a busy and successful year. The financing business completed a wide range of corporate transactions, deploying approximately $300m, part of which were successfully syndicated to various institutional investors. The Debt Capital Markets franchise continued to strengthen and despite volatile market conditions was active on a number of mandates for sovereigns, financial institutions and corporates. Notably, the team acted as joint lead manager and book runner on Noor Bank’s debut $500m senior sukuk, which was oversubscribed by more than four times, Albaraka Turk’s $250m Tier II sukuk and Qatar Islamic Bank’s $750m senior sukuk and QR 2bn Tier I sukuk.
The Mergers and Acquisitions team remained active on a number of high profile transactions, most notably the acquisition of a Turkish retail group by a Qatari client.
The team is involved in a number of buy-side and sell-side mandates across multiple industries and geographies for both family offices and institutional investors. Despite equity capital markets being more subdued in 2015, the team is currently mandated on a number of potential IPOs.
Principal Investments generated robust performance in 2015. In the real estate sector, the business is at various stages of execution and completion on income generating transactions in London, elsewhere in Western Europe and in the USA.
Most notably, QInvest completed its investment in a portfolio of 16 retail properties across Germany, which is currently being offered for co-investment to clients, and is in advanced discussions on a new serviced apartment project in the UK, which will also be available for co-investment to clients. The team has concluded additional mezzanine transactions in the USA and continues to search for value additive and residential development opportunities in London and other geographies on a co-investment basis. Moreover, they have provided financings of almost $100m to real estate corporate clients and deployed more than $ 135m in real estate equity investments.
QInvest made a select number of equity investments, deploying approximately $50m in various transactions. During 2015, the division generated strong Assets under Management growth of 75 percent year-on-year, reflecting its
The Peninsula
Please wait...
