Qatar Islamic Bank (QIBK) posted a 9.5 percent decline in profit last year as the country’s biggest Shariah-compliant lender by assets raised provisions against bad loans.
Net income was 1.24 billion riyals ($341 million), the Doha-based lender said in an e-mailed statement. That compared with profit of 1.37 billion riyals in 2011. The mean estimate of seven analysts was for profit of 1.46 billion riyals, according to data compiled by Bloomberg………………………………………..Full Article: Source