QIB net profit up 15pc, beats estimates
Dubai, July 14, 2014
Qatar Islamic Bank (QIB), the largest sharia-compliant lender in the country by assets, posted a 15 per cent jump in second-quarter net profit on Monday, according to Reuters calculations, beating analysts' expectations.
The Islamic lender made a net profit of QR389.6 million ($107 million) during the three months to June 30, Reuters calculated, compared with QR338.9 million in the same period a year ago.
Analysts on average forecast a net profit of QR348.8 million for the period in a Reuters poll.
QIB did not provide a quarterly breakdown so Reuters calculated the figure based on previous financial statements.
Net profit for the first six months of the year gained 15 per cent year-on-year to QR725 million, a statement from the bank said. - Reuters