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Islamic Finance Briefing - Categorized | Banking, Performance more

IBQ announces 25pct increase in net profits for 2011

Posted on 06 February 2012

IBQ reported a 25% rise in net profits to QAR 573 million for the year ending 31 December 2011. The figure compares with profits of QAR 458 million recorded in the previous year. The 25% increase means that IBQ achieved the 2nd highest year on year growth in profits among all banks operating in Qatar.
Growth was witnessed across all IBQ business lines as total customer deposits enjoyed a considerable rise of 22% on the previous year, finishing at QAR 19.4 Billion while the Bank’s customer loan portfolio reached QAR 16.7 Billion, a 9% increase over 2010. Non-interest income was equally strong compared with the same period in the previous year growing to QAR 233 million, a 32% increase………………………………………Full Article: Source

 
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