Banking, Finance & Takaful

Qatar’s QIB sees 12% jump in nine-month net profit

QIB_IconQatar Islamic Bank (QIB), the Gulf state’s largest sharia-compliant lender by assets, reported a 12.8 percent jump in nine-month net profit on Monday.

The Islamic lender made a net profit of QR1.1 billion ($300 million) during the period, a company statement said, up from QR975.1 million in the same period a year ago.

The bank did not provide a breakdown of third-quarter earnings. Analysts on average forecast the lender would make a net profit of QR378.05 million for the period in a Reuters poll.

Source: Arabian Business

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