Doha: Qatar Islamic Bank has announced a net profit (attributable to the shareholders of the Bank) of QAR 1.6 billion for the year 2014, which represents a strong 20% increase over 2013.
QIB is Qatar’s leading Islamic Bank. Earnings per Share reached QAR 6.78, compared to QAR 5.65 in December 2013. In line with the improved profitability, QIB Board of Directors proposed a profit distribution to shareholders of 42.5% of the nominal share value (QAR 4.25 per share) compared to 40% last year, subject to approval of Qatar Central Bank and QIB’s General Assembly.
Customer Deposits of the Bank have registered a strong growth of 32% compared to 2013 and now stand at QAR 67 billion, allowing the Bank to improve its financing to deposit ratio to 90%. Total Assets of the Bank has increased by 24% compared to 2013 and now stands at QAR 96 billion driven by a robust growth in the Financing activities that have now reached QAR 60 billion having added QAR 13 billion, representing a 27% growth over 2013.
