Mubasher: QINVEST, Qatar's largest investment bank, on Sunday posted a 193% year-on-year surge in its net profits, registering QAR 66 million, during the full year ended 31 December 2017.
The Qatar-based leading private investment group said that revenues from all business lines amounted to QAR 368.6 million (US$ 101.3 million), resulting in operating profit of QAR 177.3 million (US$ 48.7 million).
“QINVEST’s prudent investment approach, stringent provisioning policy, and underleveraged balance sheet has provided stability amid regional uncertainties,” according to the firm's statement.
The prominent Islamic financial institution continues to maintain a healthy Capital Adequacy Ratio of 26% as per QFCRA Basel rules, as compared to the regulatory requirement of 10.5%.
Moreover, the group’s liquidity reached $120 million for the full year 2017.
“In 2017, we were able to capitalize on relatively more favorable global market conditions. We remain prudent in our management of risk and have built up a strong liquidity position and an underleveraged balance sheet that has enabled us to invest in key global markets on an opportunistic basis,” said QINVEST chairman Jassim Bin Hamad Al Thani.
