QIIB discloses semi- annual financial statements

Qatar International Islamic Bank (QIIB) disclosed the semi- annual financial statements for the period ending June 30, 2012, which revealed a net profit of QR 340.1 million in comparison to QR 322.3 million for the same period last year. The bank’s net profit grows by 5.5% , said QIIB Chairman and Managing Director, HE Sheikh Dr Khalid bin Thani bin Abdullah Al-Thani in a statement published today at Qatar Exchange (QE) website. "QIIB’s first half performance highlights the success of team work led by the bank’s Executive Management and our bank wishes to stay the course. The good position currently being enjoyed by QIIB based on value-based banking, will help it remain amongst the best banks in Qatar and the region," QIIB Chairman said. HE Sheikh Dr Khalid bin Thani al-Thani said the QIIB Board of Directors has clearly laid out a strategy for the bank, based on the best practices in the banking industry with special consideration of modern risk management procedures. "All forecasts highlight the fact that Qatar will be able to maintain the momentum of its robust economic growth. Clearly, there are plenty of opportunities for us, as a bank, in the Qatari market," he added. For his part, QIIB Chief Executive Officer, Mr Abdulbasit A. Al-Shaibei said the net operating income earned by the bank in the first half of this year amounted to QR 581.9 million compared with QR 566.2 million earned in the same period in 2011. QIIB’s total assets stood at QR 23.7 billion in H1, 2012 compared with QR 22.2 in the same period last year representing an increase of 7%, according to the statement. The earnings per share (EPS) were QR 2.25 in H1, 2012 compared to QR 2.19 in the end of same period last year. The bank’s financing portfolio grew up to QR 11.4 billion in the six-month period that ended on June 30 ,2012 compared with QR 10.2 at end of the same period in 2011, representing an increase of 13% ,total customer’s deposits grows by 11% to 17.5 billion on June 2012 .