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Qatar Islamic Bank posts 12.8 pct profit rise, in line with forecasts
April 16, 2017 / 12:09 PM / 5 months ago

Qatar Islamic Bank posts 12.8 pct profit rise, in line with forecasts

DUBAI, April 16 (Reuters) - Qatar Islamic Bank (QIB), the Gulf state’s largest sharia-compliant lender by assets, met the average forecast of analysts as it reported a 12.8 percent jump in first-quarter net profit on Sunday.

It made a net profit of 555.4 million riyals ($152.6 million) during the three months to March 31, compared with 492.4 million riyals in the same period a year earlier, its statement said.

Three analysts polled by Reuters had forecast on average the bank to make a quarterly net profit of 518.7 million riyals.

Financing activities grew 9.3 percent year on year to 99.5 billion riyals, and deposits gained 16.3 percent over the same time period to 103.9 billion riyals. ($1 = 3.6408 Qatar riyals) (Reporting by Tom Arnold; Editing by Alison Williams)

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