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Qatar International Islamic Bank reports 2013 net profit up 10.5 per cent

January 26, 2014

Qatar International Islamic Bank (QIIB or International Islamic) earned total revenue of QAR 1.5 billion in 2013. Net profit reached QAR 750 million in end of year 2013, showing a growth of 10.5 per cent compared to year 2012. Earnings per share reached QAR 4.96 compared to QAR 4.49 in 2012. QIIB's Board of Directors has recommended a cash dividend of 37.5 per cent of the nominal value share ( QAR 3.75 per share), compared with QAR 3.5 per share in 2012. Chairman and Managing Director HE Sheikh Dr Khalid bin Thani Al-Thani said International Islamic's strategy is to participate in the financing of various projects and sectors, especially in mega projects such as infrastructure upgrades, in line with Qatar National Vision 2030. International Islamic CEO, Abdulbasit A.Al-Shaibei said the results showed the bank achieved a total income of QAR 1,458 million compared with QAR 1,183 million in the previous year, growth of 23.2 per cent. Customer deposits totalled QAR 24.4 billion in 2013, up 24.3 per cent by the year-end. Financing assets grew to QAR 19.0 billion compared with QAR 14.7 billion in 2012, up 29.6 per cent. Total assets stood at QAR 34.4 billion at the end of 2013, up 20.5 per cent. Total shareholder equity was QAR 5.3 billion , and the capital adequacy ratio under Basel II stood at 18.9 per cent at the end of 2013.

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Source: CPI Financial

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