QIB’s main branch on the Grand Hamad Street. The bank’s total assets jumped 28% compared to December 2014 and stood at QR123bn in September.

Qatar Islamic Bank (QIB) has posted a nine-month net profit of QR1.4bn, up 24.8% on the same period in 2014.
Total assets of the country’s leading Islamic bank have also increased by 28% compared to December 2014 and stood at QR123bn in September, driven by a “continued growth in the core financing and investing activities.”
The bank’s financing activities stood at QR82bn in September, which shows a QR22bn, or 38%, increase compared to December 2014. Customer deposits have grown by QR20bn to reach QR87bn, a growth of 30% compared to December 2014.
Total income for the nine-month period that ended on September 30 reached QR3.3bn, registering a 23% growth compared to QR2.7bn in the same period in 2014.
Income from financing and investing activities has grown by 24% to reach QR2.8bn for the nine-month period compared with QR2.3bn for the same period of 2014.
Net fee and commission income reached QR345mn, representing a 19% growth compared to previous-year period in 2014.
QIB said it was able to maintain the ratio of non-performing financing assets to gross financing assets to around 1%, one of the lowest in the industry, reflecting the quality of the bank’s financing assets portfolio and its effective risk management framework.
The bank continued to pursue the conservative impairment policy with the coverage ratio for non-performing financing portfolio above 100%.
QIB’s total shareholders’ equity increased by QR417mn compared to December 2014 to reach QR13bn. The bank also raised Basel III-compliant additional Tier 1 capital by issuing perpetual sukuk for an amount of QR2bn.
QIB’s capital adequacy stood at 14.2% in September as per the Basel III guidelines issued by the Qatar Central Bank.
In April this year, international ratings agency Fitch upgraded QIB’s long-term IDR to ‘A+’ from ‘A’ with a stable outlook.
Capital Intelligence (CI) rated QIB’s Financial Strength Rating (FSR) at ‘A’, with a ‘stable’ outlook in view of the “significant improvement” in financing asset quality and stabilised return on average assets.
Standard & Poor’s retained QIB’s Counterparty Credit Rating at ‘A-‘with a stable outlook.
QIB received a number of prestigious awards during the first nine months of 2015 reflecting the results and achievements of the bank, including the ‘Islamic Bank of the Year 2015’ award in the Middle East for the first time, and in Qatar for the third time in a row by The Banker magazine.
QIB was also recognised as the fastest growing financial brand in the world, with its brand value rising 91% over last year, making the bank one of the “top 50 most valuable brands” of all industries in the Mena (Middle East and North Africa) region.