Qatar Islamic Bank net profit rises 5.3% in first half

Qatar Islamic Bank QIBK posted on Wednesday a first-half net profit of 2.18 billion Qatari riyals ($598.52 million), up 5.3% from the same six-month period a year earlier.

The bank, which is the largest sharia-compliant financial institution in the Gulf country, reported its total assets at 212.1 billion riyals, up 5.6% since the end of December.

QIB said its first-half earnings per share were 0.92 riyals, up from the 0.87 riyals the bank reported for the six-month period ended June 30, 2024.

($1 = 3.6423 Qatar riyals)