Qatar Islamic Bank Sees 12.7% Increase in Net Profit to Reach QAR 4.01 Billion in 2022
January 17, 2023 | Updated at January 17, 2023
Qatar Islamic Bank (QIB) reported a 12.7% increase in net profit for the fiscal year 2022, reaching QAR 4.01 billion (USD 1.1 billion) compared to QAR 3.56 billion (USD 978 million) in 2021, as announced by the entity 16th of January 2023.
Why it Matters?
The State of Qatar had a significant year as it hosted the FIFA World Cup 2022. Despite economic challenges, QIB accomplished several accomplishments during the year such as introducing new and unique offerings for customers and companies, as well as expanding its banking operations. The bank maintained its position as the country’s largest Islamic bank and the biggest private bank.
DetailsQIB’s total Assets stand at QAR 184 billion (USD 50.5 billion),...