QIIB 2023 Profits Rise 8.3% YoY

 

Doha, October 24 (QNA) - Qatar International Islamic Bank (QIIB) disclosed its financial results for the first nine months of 2023, which saw net profit grow 8.3 percent to QR 977 million, compared to  QR 902 million during the same period of the previous year.

The Earnings per Share (EPS) amounted to QR 0.65 as of Sep. 30 of 2023, compared to earnings per share of QR 0.60 for the same period in 2022.

Chairman of QIIB’s Board of Directors Sheikh Abdullah bin Thani bin Abdullah Al-Thani said that strength in Q3 results and the continued improvement in the bank's financial position across various indicators were a result of the supportive business environment in the local market and the strength of the Qatari economy.

For his part, QIIB CEO Dr. Abdulbasit Ahmad Al Shaibei said that total asset value amounted to QR 60.8 billion in Q3 of 2023, compared to QR 57.7 billion in the same period last year 2022. He added that financing assets were QR 36.8 billion and customer deposits QR 37.9 billion.

"The capital adequacy under Basel III reached 17.2 percent, which is much higher than the regulatory limit required by the QCB," he said.

The CEO noted that the bank will continue to focus on the local market and the opportunities, advantages, and the attractive investment environment it offers. (QNA)