Doha – Mubasher: Qatar Islamic Bank (QIB) on Sunday reported an increase of 12.8% in profits for the first quarter of 2017, compared to the same period in 2016.
Profits reached QAR 555 million ($152.36 million) in Q1-17, compared to QAR 492 million ($135.1 million) in Q1-16, according to the company’s statement to the Qatar Stock Exchange (QSE).
Earnings per share stood at QAR 2.13 by the end of Q1-17, compared to QAR 1.98 in the corresponding period of the year before.
The bank's financial statements indicated a decrease of 5% in total expenses reaching QAR 267 million in Q1-17, compared to QAR 280 million in the same period of the year earlier, in addition to an increase in total assets by 9.1% compared to March 2016, reaching QAR 143.3 billion.
The return attributed to shareholders rose 10.3% to QAR 2.155 billion in 2016, compared to QAR 1.954 billion in 2015.
Earlier on Sunday, QIB’s stock closed 0.29% lower at QAR 101.5 per share, with a trading value of QAR 1.4 million through the exchange of 13,730 shares.
