QIB Q2 net profit gains 15pc

July 14, 2014 - 2:31:09 pm

DUBAI: Qatar Islamic Bank (QIB), the Gulf state's largest sharia-compliant lender by assets, posted a 15 percent jump in second-quarter net profit on Monday, according to Reuters calculations, beating analysts' expectations.

The Islamic lender made a net profit of QR389.6 million ($107 million) during the three months to June 30, Reuters calculated, compared with QR338.9 million in the same period a year ago.

Analysts on average forecast a net profit of QR348.8 million for the period in a Reuters poll.

QIB did not provide a quarterly breakdown so Reuters calculated the figure based on previous financial statements.

Net profit for the first six months of the year gained 15 percent year-on-year to QR725 million, a statement from the bank said. (Reuters)