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Qatar Islamic Q2 net profit jumps 27pc

DOHA, July 14, 2015

Qatar Islamic Bank (QIB), the Gulf state's largest sharia-compliant lender by assets, beat the average forecast of analysts as it reported a 27 per cent jump in second-quarter net profit on Tuesday, according to Reuters calculations.

The Islamic lender made a net profit of QR494.7 million ($131.9 million) during the period, compared with QR389.8 million in the same period a year ago, Reuters calculations showed, using financial statements in lieu of a quarterly earnings breakdown.

Seven analysts on average forecast a net profit of QR427.2 million for the period in a Reuters poll.

The lender did not provide a detailed breakdown of its earnings in the statement.

Qatar Islamic Bank posted net profit of QR895.1 million in the first half of the year, higher than QR725.2 million it reported a year-ago, according to its statement to the bourse. – Reuters




Tags: Qatar Islamic Bank | QIB | profit |

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