• Growth in Total Assets to reach QR 46.6 billion by 9.6%.
• Growth in Financing Portfolio to reach QR 32.5 billion by 19.3%.
• Net profit grown by 6% to reach QR 832 million.
• The earnings per share (EPS) QR 5.50, Board of Directors recommends a 40% cash dividends of issued Capital (QR 4.0 per Share).

His Excellency Sheikh Abdullah Bin Thani: The growth in the net profit of QIIB is in consistence with the strength of the Qatari economy and its ability to face various challenges.

Dr. Abdulbasit Ahmad al-Shaibei: QIIB has been able to execute the plans set by the Bank’s the Board of Directors and adapt with the market factors.

His Excellency Sheikh Abdullah Bin Thani Bin Abdullah Al Thani, Vice-Chairman of QIIB board of directors announced the financial results of the bank for 2017, which shows QIIB has been able to achieve remarkable growth in various items budgeted during the financial year.

The results were announced after a meeting of the Board of Directors of the Bank presided over by Sheikh Abdullah in order to discuss the final statements for the financial year that ended on 31/12/2017.

The financial results showed that the bank achieved a net profit of QR 832 million with a growth rate of 6% compared to 2016. The earnings per share stood at QR 5.50 in 2017.

The Board of Directors recommended to the Ordinary General Assembly of the shareholders to distribute cash dividends of 40% (QR 4 per share) subject to Qatar Central Bank approval of the financial statements.

On the QIIB results for 2017, HE Sheikh Abdullah Bin Thani commented, "The Bank's results and its remarkable growth are consistent with the strength of the Qatari economy and its ability to face various challenges it has confronted with. The Qatari economy has proven to be rock solid and firm, driven by diligent planning and systems and procedures, thanks to the patronage and support of His Highness the Emir, Sheikh Tamim Bin Hamad Al Thani”.

He said, “At QIIB, we remain committed to the Qatari economy and are putting all our strengths and resources to the provision of necessary financing for projects, whether they are infrastructure related or otherwise. We consider this as a duty and not an option as the Qatari economy offers attractive opportunities that are not available in any other economy in the region."

Sheikh Abdullah expressed confidence that QIIB will continue in the growth trajectory and maintain profitability in the period ahead as its strategy has demonstrated its ability to anticipate potential challenges, ensured strength and stability in the bank’s financial position and minimized risks.

"Enhancing returns to shareholders, improving the overall working environment, increasing innovation and expanding growth opportunities will remain constant goals for QIIB and we will work with full force to benefit from the various market factors and transform challenges into opportunities for the Bank, the shareholders and customers equally.”

His Excellency thanked QIIB Executive Management and the Bank's employees for their efforts, which helped the bank achieve the good financial results and urged them to continue working diligently in order to contribute to advancing the Bank's various indicators and serving the national economy and the Qatari people.

For his part, Dr. Abdulbasit Ahmad al-Shaibei said that the total revenues of the bank amounted to QR1.9 billion at the end of 2017 compared to QR 1.7 billion in 2016, which represent a growth of 8.8%, as customer deposits increased to reach QR 32.5 billion in 2017 compared to QR 26.6 billion in 2016

He said QIIB’s total assets increased by end-2017 to reach QR 46.6 billion, with a growth of 9.6% compared to 2016. The shareholders equity stood at QR 6.8 billion in end-2017, while Capital Adequacy under Basel III ratio to 17.87%, which indicates the strength of QIIB’s financial position amid various risks.

Dr Al-Shaibei confirmed that the financial results achieved by QIIB in 2017 are in perfect alignment with efforts made to implement the plans set by the bank’s Board of Directors and adapt quickly to the various market factors and challenges in 2017, especially those linked to the unjustified blockade on Qatar.”

He said the strength of the Qatari economy and its ability to overcome various challenges and obstacles, shielded the country’s banking system from any adverse effects as a result of the blockade. The government’s policies have turned the blockade into an opportunity and the actions taken by the Qatar Central Bank have contributed to the financial stability of the sector and helped the sector overcome any effects or consequences of the blockade.

“We have found that the growth in various items provisioned in our budget confirms these facts."

"During 2017, QIIB maintained its focus and interest on the local market in view of the opportunities provided by the Qatari economy, which is witnessing a major revival in terms of projects, whether they are large and related to infrastructure, or small and medium projects, which the government considers very important in the economy and a contributor to national growth.

In this regard, it is important to mention the effective cooperation and partnership between QIIB and the Qatar Development Bank, which facilitated financing many small and medium projects and entrepreneurial initiatives.” 

 He pointed out that besides the focus on the local market, 2017 had seen QIIB making a foray into the Kingdom of Morocco, where in partnership with CIH and the CDG, it has launched Umniah Bank. “We hope that the bank will be a gateway to future projects in Africa."

In order to strengthen the Bank's financial position and diversifying funding sources, QIIB has established a $2bn Sukuk issuance Programme, which has approved by the UK Financial Conduct Authority (FCA) and admitted to the official list of the FCA and the subsequent listing on the London Stock Exchange.

This was assigned a provisional rating of ‘A2’ by Moody’s Investors Service and expected ‘A’ rating by Fitch Ratings.

In 2017, QIIB executed many plans and procedures aimed at increasing operational efficiency. The nation-wide branch network was restructured in line with new urban developments and the expansion of commercial centers and newer malls in many areas.

QIIB’s new branches were opened at the Mall of Qatar and the Doha Festival City and new branches are being completed at The Mall, City Center and Ezdan Al Wakra Mall."

"During last year, QIIB has modernized the technological infrastructure to enhance its operations and keep up with the best-in-class world scale banking systems. We have implemented many projects and procedures that will increase the flow, accuracy and speed of work and benefit our customers,” Dr Al-Shaibei said.

He said, "The Bank's customer base has seen a surge last year and a greater demand witnessed for our innovative products and services as Islamic banking gains in popularity due to its compliance with Shariah and value-based banking. In parallel, we have our enhanced our electronic delivery channels, be it the internet, mobile banking, telephone banking or the call center, as well as expanding our ATMs network.”

The QIIB CEO said Moody's and Fitch Ratings have established QIIB ratings at ‘A2’ and ‘A’ respectively last year, which reflects Qatar’s strong financial position and its ability to confront various challenges and market factors. 

On human resources, Dr. Al Shaibei pointed out "QIIB has continued to focus on spotting the right talent and nurturing them by giving proper training and guidance. The Bank continues to attract competent Qataris and provide them suitable positions in QIIB, which will help them build a career and grow up the professional ladder.  

Regarding QIIB’s Corporate Social Responsibility, the Chief Executive Officer stated, "QIIB continues to support activities that serve the community at various levels. In 2017, the Bank supported many initiatives and projects that served different sectors such as education, health, sports, culture and charitable activities. QIIB believes in the importance of partnership between the banking sector and non-profit institutions, which promotes the values of belonging and strengthens the bonds of society.”