QIB Profit Grows by 13% to Reach QAR 555 Million for Three Month
Qatar Islamic Bank (QIB) has announced the results for the three months
Doha - QNA
Qatar Islamic Bank (QIB) has announced the results for the three months period ended 31 March 2017.
Net Profit attributable to the Shareholders of the Bank amounted to QAR 555 Million for the three months period ended 2017 representing a growth of 12.8% over the three months period ended 2016.
The Earnings per Share (EPS) per share amounted to QR 2.13 As of March 31, 2017 versus EPS per share QR 1.98 of the same period in 2016.
Total Shareholders’ Equity of the bank has reached QAR 13.7 Billion. Total Capital adequacy of the Bank under Basel III guidelines is 16.6% as of March 2017, higher than the minimum regulatory requirements prescribed by Qatar Central Bank and Basel Committee.
In April 2017, Fitch Ratings has affirmed QIB’s Long Term Issuer Default Rating (IDR) at 'A+' with a Stable Outlook reflecting the Bank's established franchise in Qatar, its sound asset quality, solid funding and liquidity profile with a franchise that is more diversified than that of many peers.
Capital Intelligence Ratings (CI) has also affirmed QIB’s Financial Strength Rating (FSR) at ‘A’ with a ‘Stable Outlook’. The Bank’s Long-Term FCR is raised to ‘A+’ while the ShortTerm FCR is affirmed at ‘A2’ on a ‘Stable Outlook’.
Source: QNA
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