QIIB Reports QR 679 Million Net Profit in 2012

Doha, January 22 (QNA) - Qatar International Islamic Bank (QIIB) announced on Tuesday a net profit of QR 679 million in the year ending on December 31, 2012, indicating a growth of 4 % compared with 2011. A statement released by the QIIB said the results showed that the Bank achieved total revenue of QR 1,183 million last year. The results were announced after a meeting of the Bank's Board of Directors, which discussed the closing figures for 2012. The results confirm the Bank has again consolidated its strong position in Shariah-based banking and expanded its activities and achieved strong growth with total assets increasing by 22.3% from 2011 to 2012. The net profit in 2012 was QR 679.0million, indicating a growth of 4 % compared with 2011. The earnings per share (EPS) amounted to QR 4.49 in 2012 compared with QR 4.38 in 2011. The Board of Directors has recommended to the General Assembly of shareholders to approve a cash dividend of 35 % of the bank capital, amounts to QR 3.5 per share. HE QIIB Chairman and Managing Director Sheikh Dr Khalid bin Thani Al Thani said International Islamic's results were good and they clearly mean that the Bank is on the right path, implementing the desired strategy that focuses on growth and capitalizes on opportunities, both locally and abroad. They also reflect the Bank's sound policies in risk management. He said the Banks' success has been driven by Qatar's overall success in various economic spheres as the nation continues the pursuit of its 2030 vision. This has become possible because of the wise policies being pursued by HH the Emir Sheikh Hamad bin Khalifa Al Thani and HH the Heir Apparent Sheikh Tamim bin Hamad Al Thani. Sheikh Dr Khalid hoped the future would present even better opportunities for the Bank. as International Islamic has a lot of productive work at hand that need to be completed in view of Qatar undertaking many significant new projects as well as the development of the Small and Medium Enterprises (SME) segment in the country. International Islamic's Chairman and Managing Director stressed the Bank's commitment to supporting and developing SMEs in the country. "We take care of our small businesses; we will continue to assist them. We will also make optimum use of our opportunities, if they are good for the Bank, particularly from the risk management perspective." In reference to International Islamic's successful Sukuk issuance last year, Sheikh Dr Khalid said not only was the targeted amount of $700mn raised, but it was oversubscribed by more than 7 times. That showed strong investor interest in both International Islamic and the sound platform on which the Bank has been built, besides indicating its robust health. International Islamic's CEO Abdulbasit Al-Shaibei said the Bank maintained growth in all areas in 2012. The operating revenue was QR 1,183 million in 2012, which shows an increase of 5% compared with 2011, he said, adding that the deposits totaled QR 19.6 billion in 2012 compared with 2011, which shows an increase of 18.6%. The assets totaled QR 28.6 billion in 2012 compared with 2011, which shows an increase of 22.3 %, with total financing assets increasing by 38.6% over the same period. The shareholder equity amounted to QR 5.0 billion in 2012. The capital adequacy ratio under Basel II was 18.66 % and is a clear reflection of International Islamic's robust risk management policies, the CEO said. He said the results are an indication of the growth achieved by the national economy last year, which presented a lot of opportunities for the Bank. On Qatari banks, Abdulbasit Al-Shaibei said they are the leaders in the region. The local banks are in good financial position, particularly taking into account the global economic and financial situation. International Islamic has seen its customer numbers grow last year with the creation of a lot of new products and services by the Bank as well as new opportunities for SMEs. In the local market, International Islamic has many branches to and help meet the Bank's customers' needs. "We have also placed many ATMs in convenient locations across Qatar." He said the Bank harnessed modern technology and placed adequate focus on HR, with emphasis on Qataris. "Spotting, training and placing Qataris is a very important priority for the bank. The bank has many training programs for them. Although we do focus on the development of Qataris, all our staff members are also being trained as the Bank works to develop a competitive and professional workforce. We also emphasis Corporate Social Responsibility (CSR) initiatives within the Bank and our communities, which include sporting and other social activities that contribute to nation building." (END) Advisory (Shura) Council Speaker Returns from Khartoum Doha, January 22 (QNA) - The Advisory Council Speaker HE Mohamed bin Mubarak Al Khulaifi and his accompanying delegation returned to Doha this evening from Khartoum after active participation at the eighth session of the Conference of the Parliamentary Union of the Organization of Islamic Cooperation (OIC) and associated meetings, which concluded there today. The conference discussed a number of topics including the report of the Secretary-General and the nomination of the members of the General Committee and the Executive Committee of the Union for the year 2013. It also included adoption of the reports and draft resolutions submitted by the specialized committees on topics including Jerusalem, the Palestinian issue, the occupied territories in Syria and Lebanon as well as stand with Sudan in the face of threats that it faces and its support in defense of its sovereignty, security, stability and efforts of peace building.(QNA)