Qatar Islamic Bank (QIB) on Sunday posted a 14.7% year-on-year increase in its net profits for the second quarter of 2018.
The lender’s net profits amounted to QAR 704.75 million in the period between April to June, compared to QAR 614.65 million in Q2-17, according to the bank’s statement to the Qatar Stock Exchange (QSE).
Total assets of Qatar’s leading Islamic bank rose 1.4% to QAR 152.5 billion in Q2-18, while customer deposits stood at QAR 98.9 Billion.
As for the first half of 2018, net profits went up to QAR 1.32 billion, versus QAR 1.16 billion for the corresponding period of 2017.
Earnings per share (EPS) amounted to QAR 5.61 for the six-month period ended 30 June 2018, from QAR 4.93 for the same period a year earlier.
QIB managed to maintain the ratio of non-performing loans (NPLs) at 1.1%, which reflected the quality of its financing assets portfolio and its effective risk management framework, according to the statement.
It is worth noting that QIB’s net profits jumped 12.6% year-on-year to QAR 625.2 million.
By 12:52 pm Qatar time, QIB’s stock rose 1.45% at QAR 120.36.