Qatar International Islamic Bank (QIIB) - Interim Results for Q3-2016

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1. Press Release Doha : 24th October 2016 ------------------------------------------------------------------------------------------------------------------------------------------ International Islamic Announces the Interim Results for Q3-2016 • Total Assets grew by 10.9 % • Total Financing portfolio grew by 10.2 % and Customers Deposit's grew by 8.0 % • Total income grew by 11.6 % HE Sheikh Dr. Khalid bin Thani al-Thani: QIIB always seeks to maintain its competency and enhance its contribution to the growth of the Qatari economy. Mr Al-Shaibei: QIIB possesses many strengths, among which are the quality of its financing portfolio, the loyalty of its customers and continuous capacity to renew and innovate. HE Sheikh Dr. Khalid bin Thani bin Abdullah bin Thani Al Thani, Chairman of the Board Managing Director of QIIB, announced the Bank's financial results for the third quarter (Q3) ending on 30/09/2016, which showed that the bank was able to move forward in achieving a better performance, as manifested in the various budget items. The Q3 results’ announcement followed a meeting of the Board of Directors, chaired by HE Sheikh Dr. Khalid bin Thani, which discussed the bank’s Q3- 2016 performance and results. The results showed that QIIB achieved a net profit of QR 666.4 million riyals compared to QR 656.5 million riyals for the same period in 2015, which indicates a growth of 1.5%. 1
2. Commenting on the results , Sheikh Dr. Khalid said, “QIIB is still playing its active role and is intensifying its efforts to promote growth and achieve the best results. These are reflected on the improving financial performance of the Bank and its rising competencies and enhanced role in contributing to the growth of the Qatari economy, which is witnessing continued significant growth, thanks to the support and patronage of His Highness the Emir, Sheikh Tamim bin Hamad Al Thani.” He said the positive results achieved by QIIB are of particular importance in the context of various market factors. The Bank was able to tide over the repercussions due to the fall in oil price globally and its subsequent volatility and forecasts suggest that the Bank will be able to achieve more as a result of improving market stability, regionally and globally. Sheikh Dr Khalid pointed out that Qatar's economy has been able to maintain a significant growth and indications are that it will be able to continue delivering robust growth. In addition, the premier rating agencies have confirmed that QIIB is highly ranked based on the flexibility it enjoys, the State of Qatar’s huge reserves and large financial buffers, as well as the prudent management of the Qatari economy. At QIIB, all these factors are motivating us to be more optimistic and to implement our strategic and phased plans as decided. Sheikh Dr. Khalid bin Thani pointed out that the ambitious plans and projects that the government is implementing, particularly the mega-projects and the infrastructure projects, create dynamics that stimulate growth, improve the business environment, help complete the projects on time and give a further push to newer projects. “We at QIIB are ready to contribute to funding these various projects, and keep on working and cooperating with the business sector in the country in various fields,” the Bank Chairman and Managing Director stressed. He said the local market remains QIIB’s main focus and top priority. But at the same time, the Bank will not miss investment opportunities outside Qatar, which are found to be feasible. 2
3. In this regard , QIIB is waiting to complete all legal and executive procedures required for the launching of a joint venture bank in the Kingdom of Morocco, based on the partnership agreement that was signed earlier with the Moroccan real estate and tourism bank - Credit Immobilier et Hotelier (CIH Bank). At QIIB, we hope that the bank starts working soon in this region. Sheikh Dr Khalid said QIIB was looking forward to further improving its core businesses and various performance indicators. He also thanked the Bank’s Executive Management and all employees for their great efforts in achieving the desired results, which are beneficial to both QIIB shareholders and customers. QIIB CEO Abdulbasit Ahmed Al-Shaibei noted that the Bank's results for the third quarter were consistent with its plans and expectations in the background of various factors that have emerged in the market during this period. “Overall, we are optimistic and look forward to achieving further growth and profitability,” the QIIB CEO said. He pointed out that QIIB’s total revenues have reached QR 1,261 million at the end of Q3-2016, compared to QR 1,130 million during the same period of 2015, which represents a growth of 11.6%. The Bank’s financing portfolio grew by 10.2% to reach QR 26.8 billion compared to QR 24.4 billion in the corresponding period last year. Mr Al-Shaibei said the Bank’s deposits have increased by 8.0% and totaled QR 26.9 billion at the end of the third quarter, compared with QR 24.9 billion in the same period last year. The CEO confirmed that QIIB’s total assets at the end of Q3-2016 have reached QR 43.1 billion, compared to QR 38.8 billion in the corresponding period of 2015. This represents a growth of 10.9%. The revenue per share has reached QR 4.40 compared to QR 4.34 per share, during the same period last year. 3
4. As for capital adequacy under (Basel III), Mr Al-Shaibei said; in August 2016 the Bank successfully completed a QAR 1.0 billion Additional Tier 1 Capital Sukuk issuance after receiving all required regulatory approvals, which contributed to the strengthening of the capital adequacy ratio of up to 19.49 % at the end of Q3-2016. It is a very distinct ratio that confirms the bank's financial strength and prudent policies in mitigating risks as well complying with regulatory requirements. He said that QIIB results for the third quarter are positive and show its ability to cope with the major factors in the market. Generally, the market opportunities are improving and provide better avenues for further growth. The Qatari economy has been able to maintain its robustness, which is attested by various leading international rating agencies and other experts. QIIB, he said, focuses on activities that support and promote the growth of small and medium sized enterprises (SMEs) in the country. Qatar attaches significant importance to SMEs as their role is vital in the national economy. QIIB has been able to build promising partnerships in relation to SMEs development in Qatar. QIIB has also been engaged in financing various large and mega projects and infrastructure projects that stimulate growth in the national economy. Al Shaibei pointed out that QIIB possesses many strengths, which include the quality of its financing portfolio, the loyalty of its customers and its continuing capacity to renew and innovate. And accordingly, the Bank has stayed focused on expanding its core business activities based on a value-based banking as specified under Islamic Shariah. The Bank has also effectively responded to the needs of its growing customer base by designing new products and services and opening new branches, particularly in leading shopping malls across the country. And in this regard, there are plans to open new QIIB branches at the City Center Mall and the Mall of Qatar. QIIB has already launched a branch at the Ezdan Mall in Gharafa earlier. The Bank is also in the process of refurbishing some of its existing branches and relocating others, in accordance with the strategy to better serve the customers and 4
5. facilitate their access to the best and the most efficient and affordable banking products and services . In parallel, the Bank is also focusing its attention on modern alternative channels and has already made available to customers’ e-banking, and banking services via mobile phone, telephone banking and a state-of-the-art call center. The bank is working as well on providing more ATMs at important locations across Qatar, as it attaches importance to enhancing its technological infrastructure, in line with the latest banking techniques. As for new products and services, Mr Al-Shaibei said the Bank has been driven by innovation, especially because Islamic banking is in need of this. In this regard, the Bank recently launched a features-packed credit card, which enables its customers to avail themselves to a monthly payment plan equivalent to 5% of the amount due on their credit cards. “The launch of the Shari’a compliant 5% monthly payment plan for QIIB’s credit cards comes within the framework of innovation and in response to customer requirements. Further, we have seen steadily increasing redemptions by our customer of the rewards attached to our credit cards, indicating their favour with our rewards programme. We hope the features-packed QIIB credit cards will meet the various needs of our customers in different categories and that they will find these easily accessible and most convenient.” Mr Al-Shaibei reiterated QIIB’s commitment to the Qatari society and said the Bank would continue to support various nation-building activities that serve the society, including non-profit projects. He also expressed QIIB’s commitment to developing a cadre of highly skilled Qatari personnel in the Bank and assured that the Bank would provide the best training, placement and career enhancement opportunities to Qataris. 5