From left: QInvest’s Chairman Sheikh Jassim bin Hamad bin Jassim bin Jaber Al Thani; Co-Chief Executive Officer Hussain Abdulla, and Co-Chief Executive Officer Hussein Fakhreddine.
Doha: QInvest, Qatar’s leading investment bank and one of the most prominent Islamic financial institutions globally, yesterday announced its financial results for the fiscal year 2021 (FY2021). The Bank has reported growth in its revenue figures, including QR204m revenues from all business lines and an operating profit of QR84m.
Sheikh Jassim bin Hamad bin Jassim bin Jaber Al Thani, Chairman of QInvest said: “Global markets have continued to evolve during the unprecedented economic disruption and market volatility brought on by the COVID-19 pandemic. It is testament to the resilience of QInvest, our business, and the adaptability of our strategy, that we not only weathered this challenging macroeconomic environment but emerged in a stronger position. The company’s latest results demonstrate the success of QInvest’s long-term strategy, which aims to deliver consistent value to our shareholders”.
Hussain Abdulla, Co-Chief Executive Officer of QInvest said: “QInvest’s performance over 2021 reasserts the company’s ability to deliver resilient returns despite financial headwinds across the region and the world. Having repositioned the business to focus on maximising the value of our shareholder’s equity and providing them with consistent, long-term returns. The company successfully captured new and diversified mandates, made several strategic investments and solidified relationships with existing clients, crucial factors that will support the Bank’s performance in 2022 and beyond”.
The past year saw QInvest reinvest in more liquid asset portfolios directly or via funds, and mid-level risk real estate investments where the business has a strong and consistent track record of delivering robust returns with a plan to recycle it’s long dated assets.
Hussein Fakhreddine, Co-Chief Executive Officer at QInvest added: “The past year saw the QInvest team effectively source and execute compelling investment opportunities with low volatility. In addition, our advisory business continued to perform in line with our expectations, advising on several live transactions in Qatar and across the globe. Looking ahead, QInvest is in a favourable position, we have a solid pipeline for 2022 and the Bank will continue to pursue opportunities that deliver value to our shareholders and are transformative for our business”.
