Qatar Islamic Bank’s third quarter net profit rises 11.5 percent


Qatar Islamic Bank <QISB.QA> (QIB), the Gulf state’s largest sharia-compliant lender by assets, reported an 11.5 percent rise in third-quarter net profit as the bank’s income from fees and commission and financing rose.

It made a net profit of 680.0 million riyals ($186.8 million) during the three months to Sept. 30, compared with 610.1 million riyals in the same period a year earlier.

The results were broadly in line with forecasts of EFG Hermes, which expected a net profit of 658.2 million riyals and SICO, which expected a profit of 664.1 million riyals.

Qatar National Bank’s <QNBK.QA (QNB) third-quarter net profit rose 3.5 percent, the largest bank by assets in the Middle East and Africa said last week.

DUBAI (Reuters)

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