QIIB Net Profit Increased by 7.1 Percent in Q1 of 2023

QIIB

The Net profit of Qatar International Islamic Bank (QIIB) increased by 7.1 percent in Q1 of 2023, reaching QR 316 Million, compared to QR 295 Million for the same period of 2022.

The figures issued by QIIB today indicated that the Earnings per Share (EPS) amounted to QR 0.21 in Q1 of 2023 versus the Earnings per Share (EPS) of QR 0.19 for the same period of the previous year.

HE the Chairman of QIIBs Board of Directors Sheikh Abdullah bin Thani bin Abdullah Al-Thani said: "QIIBs results for the first quarter of 2023 reflect the banks progress and growth. We rely on the strong local business environment that provides us with the necessary opportunities to achieve stable and continuous growth." His Excellency added: "The positive indicators in the market and the great trust in the State of Qatar have helped us move forward and have cast a positive view on the business sector in the first quarter. In addition, the sound management of the banking sector by the supervisory authorities is reflected on it effectively, which provides Qatari banks with many competitive advantages that help them achieve the best targeted results." On his part, QIIB Chief Executive Officer Dr. Abdulbasit Ahmed Al Shaibei commented: "During the next period, the bank will continue its efforts to achieve the targeted growth numbers, and implement the necessary plans to enhance the growth of the indicators, based on its high financial viability, while addressing the market challenges and the various factors of competition".

(QNA)