ID :
196881
Sun, 07/24/2011 - 22:42
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http://m.oananews.org//node/196881
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Qatar International Islamic Bank Announces Net Profit of QR 322 Million in H1
Doha, July 24 (QNA) - Qatar International Islamic Bank (QIIB) Chairman and Managing Director Sheikh Dr Khalid Bin Thani Bin Abdullah Al-Thani announced the bank s first half (H1, 2011) results. The bank s net profit reached QR 322 Million in H1, 2011 compared with QR 272 Million in the same period last year, showing a growth of 18.4%, he said in a press statement released here today.
Sheikh Dr Khalid said the results clearly indicate International Islamic is surging ahead with rapid growth and holds a very strong position in the Qatari banking sector, adding that the QIIB s financial results are very good and had greatly benefitted from Qatar s rapidly developing economy. "The Qatari economy maintains its fast growth thanks to the wise policies of HH the Emir Sheikh Hamad Bin Khalifa Al-Thani and HH the Heir Apparent Sheikh Tamim Bin Hamad Al-Thani."
He said good opportunities clearly exist in the Qatari economy now. "The bank has geared itself to make the best use of the available opportunities. The bank is determined to keep contributing significantly to the development of the national economy, which is our priority."
QIIB CEO Mr Abdulbasit A. Al-Shaibei said the results reflect the continued strong growth of the bank. "This is in line with the Qatari economic growth. The Qatari economy is doing well and is the best performing in the region."
He said the bank s total income from operating activities stood at QR 566 Million, which grew by 13.3% when compared with same period last year.
The CEO said the bank s total assets stood at QR 22,173 Million in H1, 2011 compared with QR 18,179 Million at the end last year an increase of 22%.
The bank s financing portfolio grew to QR10, 122 Million in H1, 2011 compared to QR 9,178 Million at the end of last year-an increase of 10.3%
QIIB s deposits grew by 20% and reached QR 15,772 Million in H1, 2011 compared with the end of last year.
The bank s capital adequacy ratio under Basel 2 stood at 25.6 % in H1, 2011. This attests to the bank s solid risk management activities.
Al-Shaibei said the bank is pleased with the H1 performance and looks forward to an exciting future. "The bank is working hard to better its performance in future. The bank is all set to make use of the strong fundamentals of the Qatari economy."
QIIB has its eyes firmly set on local expansion. The bank will open more branches in Qatar. There are also plans to install more ATMs across the country.
QIIB will continue to provide its customers with tailor-made d products and good services.
"We will take special care for small and medium scale enterprises (SMEs) in the country, which are a very important segment of our economy. This is part of our firm commitment to support our community"
On human resources, Mr Abdulbasit A.Al-Shaibei said, "We would like to focus on training our staff members on the latest trends and procedures in Islamic banking. There will be a great deal of emphasis on the development of Qatari manpower in our bank. We will continue to recruit more Qataris and place them in appropriate positions in our bank. Our Qatarisation ration currently is (25%).
Sheikh Dr Khalid said the results clearly indicate International Islamic is surging ahead with rapid growth and holds a very strong position in the Qatari banking sector, adding that the QIIB s financial results are very good and had greatly benefitted from Qatar s rapidly developing economy. "The Qatari economy maintains its fast growth thanks to the wise policies of HH the Emir Sheikh Hamad Bin Khalifa Al-Thani and HH the Heir Apparent Sheikh Tamim Bin Hamad Al-Thani."
He said good opportunities clearly exist in the Qatari economy now. "The bank has geared itself to make the best use of the available opportunities. The bank is determined to keep contributing significantly to the development of the national economy, which is our priority."
QIIB CEO Mr Abdulbasit A. Al-Shaibei said the results reflect the continued strong growth of the bank. "This is in line with the Qatari economic growth. The Qatari economy is doing well and is the best performing in the region."
He said the bank s total income from operating activities stood at QR 566 Million, which grew by 13.3% when compared with same period last year.
The CEO said the bank s total assets stood at QR 22,173 Million in H1, 2011 compared with QR 18,179 Million at the end last year an increase of 22%.
The bank s financing portfolio grew to QR10, 122 Million in H1, 2011 compared to QR 9,178 Million at the end of last year-an increase of 10.3%
QIIB s deposits grew by 20% and reached QR 15,772 Million in H1, 2011 compared with the end of last year.
The bank s capital adequacy ratio under Basel 2 stood at 25.6 % in H1, 2011. This attests to the bank s solid risk management activities.
Al-Shaibei said the bank is pleased with the H1 performance and looks forward to an exciting future. "The bank is working hard to better its performance in future. The bank is all set to make use of the strong fundamentals of the Qatari economy."
QIIB has its eyes firmly set on local expansion. The bank will open more branches in Qatar. There are also plans to install more ATMs across the country.
QIIB will continue to provide its customers with tailor-made d products and good services.
"We will take special care for small and medium scale enterprises (SMEs) in the country, which are a very important segment of our economy. This is part of our firm commitment to support our community"
On human resources, Mr Abdulbasit A.Al-Shaibei said, "We would like to focus on training our staff members on the latest trends and procedures in Islamic banking. There will be a great deal of emphasis on the development of Qatari manpower in our bank. We will continue to recruit more Qataris and place them in appropriate positions in our bank. Our Qatarisation ration currently is (25%).
