The net profit of Qatar Islamic Bank “Al Masraf” (a Qatari public shareholding company) increased by 7.7% in the first half of 2023 to reach 1.955 billion riyals, compared to a net profit of 1.815 billion riyals for the same period of the previous year.
Earnings per share amounted to 0.83 Qatari riyals in the first half of the year 2023, compared to an earnings per share of 0.77 Qatari riyals for the same period of the previous year.
A statement issued by the “bank” pointed out that the total assets of the bank amounted to 183 billion Qatari riyals, while the total financing assets amounted to 120 billion Qatari riyals, and customer deposits amounted to 117 billion Qatari riyals.
The bank was also able to maintain the non-performing financing ratio of the total financing at 1.6%, which reflects the quality of the bank’s financing portfolio and the effective risk management framework.
The bank continues to follow its conservative policy of creating impairment provisions by building a precautionary provision for impairment on financing assets amounting to 599 million Qatari riyals for the period ending on June 30, 2023, while maintaining a good ratio to cover non-performing financing assets at 95.7% as of June 30, 2023.
