QIIB Profits Surge 5.6% in H1 2024

Doha: The net profits of the Qatar International Islamic Bank (QIIB) increased by 6.5 percent in the first half of 2024 to reach QR 655.063 million compared to QR 615.083 million during the same period of 2023. Data issued by the bank and published on the Qatar Stock Exchange website on Sunday showed an increase in earnings per share in the period ending June 30, 2024, to reach QR 0.38, compared to earnings per share of QR 0.36 for the same period of 2023. QIIB's Board of Directors approved the distribution of interim cash dividends for the six months ending on June 30, 2024, at a rate of 23 percent of the paid-up capital in the amount of QR 348 million, following the resolution of the Board of Directors of the Qatar Financial Markets Authority No. (7) of 2023, provided that Distributions to shareholders at the end of the July 30, 2024 trading session. HE Chairman of QIIB Board of Directors Sheikh Dr. Khalid bin Thani bin Abdullah Al-Thani said: "QIIB has been able to solidify its financial position and st able growth for a long period, and has consolidated its position locally through the growing confidence it has gained, and externally through the partnerships it has forged with partners in various countries of the world, which have manifested in a high level of trust and desire in continuing cooperation and strengthening business ties in line with the prestigious position of QIIB." In turn, QIIB Chief Executive Officer Dr. Abdulbasit Ahmed Al Shaibei said: "QIIB continued to respond to the expansion of its customer base through many ways, including increasing services and products innovation, and accelerating digital transformation through various available channels, which provided the various categories of our customers with an advanced banking experience that keeps pace with the best global banking developments." Source: Qatar News Agency