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Islamic Finance Briefing - Categorized | Banking, Performance more

QIB records net profit of QR1.33bln

Posted on 21 January 2011

From Thepeninsulaqatar.com: Qatar Islamic Bank (QIB), the leader in Islamic banking solutions, has announced a recorded net profit of QR1.33bn for the year 2010. The QIB Board of Directors proposed a 50 percent cash profit distribution to shareholders, subject to the approval of Qatar Central Bank and to be discussed in the next meeting of QIB General Assembly.
The profit is mainly from operating revenues that reached QR2.353bn, while total assets were at QR51.8bn by end of 2010 compared to 39.3bn in 2009, showing 32 percent growth. In addition, ROAA was at 2.9 percent, to further consolidate the Bank’s Financial Utilization Adequacy……………………………………….Full Article: Source

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