HE Sheikh Dr Khaled Bin Thani Bin Abdullah Al Thani, Chairman and Managing Director of QIIB, announced the financial results of the bank for the first half of 2017.
At the end of the bank’s Board of Directors (BOD) meeting held to discuss the financial results for the first half of the year, Sheikh Dr Khaled said, “At the end of the first half of 2017, QIIB has earned net profits of 465,3 million riyals compared to 443,1 million riyals in the same period last year, and has therefore witnessed a growth of 5%, which indicates that the bank could take advantage of the Qatari economy force achieving constant growth thanks to the support and care of HH the Emir, Sheikh Tamim Bin Hamad Al Thani.”
He said, “QIIB forms part of the Qatari banking sector, which supports and contributes to the development of different economic sectors, all constituting an integral system that boosts the national economy. This creates a suitable environment for business and growth with numerous opportunities, and facilitates its utilization for the betterment of all segments of the Qatari society.”
Sheikh Dr Khaled said, “We are reaping today the fruits of our strategy, which we implemented a long time ago, and focused on the local market. In addition, it closely follows the national labor market with a view to achieve the objectives of the bank and of its partners. This is how we could maintain a stable growth pace and the lowest possible levels of risks in addition to our central goal, which is to contribute to building our nation and serving our people”.
He stated: “All factors deemed necessary for success and to keep growing are available and the business environment is very active. We are actually developing our operating environment and respond to different types of challenges, and rely on the innovation and renovation and respond to the aspirations of the bank’s customers”.
“QIIB keenly follows national economic developments and establishes a strategy that are in conformity with these. It also ensures the implementation of the various plans and strategies developed at local and foreign levels while applying the best standards accepted worldwide in banking, be in terms of management governance or following the most precise and apt risk policies in a way to achieve the desired results and objectives,” the Chairman and Managing Director said.
HE Sheikh Dr. Khaled Bin Thani thanked the executive management of QIIB and all employees of the bank for their efforts and dedication to work with a view to achieve distinguished results and therefore realize the objectives of the bank and benefit both the shareholders and the customers.
On his part, QIIB Acting CEO Mr. Jamal Al-Jamal stated: “The revenues of the bank for the first half of the year 2017 reached 910 million riyals compared to 817 million riyals in the same period last year, which means that the bank has achieved a growth rate of 11.4%”
He added: “QIIB’s total assets reached 45.9 billion riyals at the end of the first half of this year compared to 42.3 billion riyals in the same period in 2016, which means that the bank realized a growth rate of 8.5%”
“The size of QIIB funding portfolio increased at the end of the first half of the year 2017 to reach 28.7 billion Qatari riyals compared to 26.7 Billion riyals in the same period in 2016, which means that the bank has registered a growth rate of 7.5%”
With regard to capital adequacy (Basel III), it reached 17.60 %, and reveals QIIB’s strength and the usefulness of its policy in terms of risk mitigation.
Mr. Al Jamal said, “QIIB results show that the bank succeeded in adapting itself to the different factors of the market, whether in terms of the risks or the competition, whereas the bank could maintain a stable pace of growth for a long time, and maintain strong indicators on the various items of the balance sheet”.
He further stated: “We are endeavoring to contribute to financing different projects and are giving special attention to infrastructure projects, which remains a strategic priority for us. We have made great strides with regard to SME funding, and have a leading position in the local banking sector in terms of funding such enterprises, especially through our effective and fruitful partnership with Qatar Development Bank, knowing that the returns of such projects are greatly reflected on the society”.
“QIIB is adequately responding to the expansion of its customer base and to the market developments, under which the bank has been working on the implementation of its plan regarding restructuring of our local branch network, in a way to be closer to our customers and strongly present in the commercial world”.
“The expansion covers not only the branches, but also focuses on alternative channels such as e-banking and mobile and Internet banking, and on increasing the deployment of ATMs in a way that provides special and easy banking experience and perfectly meets their requirements and expectations”.
Externally, Mr. Jamal said, “The first half of this year witnessed a great development as Umina Bank in Morocco saw commencement of its operational activities. The bank is the result of a partnership among QIIB, the Moroccan Real Estate and Tourism Loan Bank (CIH), and the Deposit and Management Fund (CDG).The bank’s operations were launched through branches in Casablanca and Rabat, and will be expanded to different regions of Morocco, providing innovative and world scale banking products and solutions to customers across the kingdom.
The Acting CEO said QIIB is very much interested in exploiting the human potential and giving greater attention to the training and placement opportunities, and keeping the bank personnel up-to-date with all and the latest banking developments.
Accordingly, the bank remains committed to attracting Qatari males and females and taking good care of them in order to accommodate them in suitable positions in different departments of the bank.