Qatar Islamic Bank Records QR2.755 in Profits for 2018

Doha, January 16 (QNA) - Qatar Islamic Bank (QIB) announced Wednesday its financial results for 2018, when it recorded profits worth QR2.755 billion. The increase in the bottom line on an annual basis was around 14.5 percent. Earnings per share were QR10.79, compared to QR9.31 in 2017. The board proposed dividends of QR5. Total assets grew 2 percent annually to reach QR153.2 billion. Operating activities were worth a total of QR102.2 billion, compared to investment activities QR31.1 billion. Equity grew 1 percent to 15.4 billion. Commenting on the results, Chairman of the board HE Sheikh Jassim bin Hamad bin Jassim bin Jaber Al-Thani said that the financial results were very positive and reflect the strength and stability of the Qatari financial sector. He also highlighted the bank's commitment to returning value to shareholders and to providing innovative banking solutions. His Excellency stressed that QIB has the financial muscles to continue with their positive performance, in line with Qatar National Vision 2030 and the state's plans to diversify the economy. (QNA)