Doha: The net profits of Qatar Islamic Bank (QIB) increased by 5.6 percent in the first half of 2024 to reach QR 2.065 billion, compared to QR 1.955 billion in the same period in 2023.
Basic earnings per share for the six months ending June 30, 2024, is QR 0.87 compared to QR 0.83 for the six months ending June 30, 2023.
QIB Board of Directors has authorized the distribution of interim cash dividends to shareholders of QR 0.25 per share i.e. 25 percent of the nominal share value payable to eligible shareholders as at the close of trading on July 25, 2024.
Total Assets of the Bank as at June 30, 2024, stand at QR 192.3 Billion representing a growth of 1.7 percent compared to QR 189.2 Billion as of Dec. 31, 2023, and up by 4.9 percent compared to June 30, 2023.
QIB was able to manage the ratio of non-performing financing assets to total financing assets at 1.7 percent. The total Capital adequacy of the bank as per the new guidelines of Qatar Central Bank (QCB) is 20.7 percent as of June 30, 2024, higher tha
n the minimum regulatory requirements prescribed by the Qatar Central Bank and Basel Committee.
Source: Qatar News Agency
