QIB net profit rises 2% to QR3.53 bn in nine months

Doha [Qatar], October 15: Qatar Islamic Bank (QIB), Qatar's leading Islamic bank, reported a 2 percent increase in net profit attributable to shareholders to QR3.5252 billion for the nine months ended September 30, 2026, supported by strong growth in financing assets, higher income and disciplined cost management.
Basic earnings per share rose to QR1.49 from QR1.46 in the corresponding period of 2025, reflecting improved profitability.
QIB's total assets grew 6.5 percent from QR221billion at the end of December 2025 to QR235.5 billion as of September 30, 2026, marking a 9.7 percent increase year-on-year. Financing assets recorded robust growth of 16.1 percent from year-end 2025 and 21.9 percent year-on-year to QR160.7 billion, highlighting the bank's expanding financing activity.
Investment securities stood at QR59.8 billion, while customer deposits reached QR145 billion, up 1.6 percent from December 2025 and 8.3 percent compared with September 2025. The growth in deposits strengthened the bank's funding base as it continued to expand its financing portfolio.
Total income reached QR8.5197 billion during the first nine months of 2026. Net income from financing and investing activities amounted to QR7.6592 billion, while net fee and commission income increased 5 percent year-on-year to QR699.8 million, reflecting growth in the bank's non-financing income streams.
QIB maintained tight control over operating costs, with total operating expenses amounting to QR844.6 million. Its cost-to-income ratio stood at 16.2 percent, which the bank said remained the lowest in Qatar's banking sector, underscoring its focus on operational efficiency.
Asset quality remained strong, with non-performing financing assets accounting for 1.51 percent of total financing assets, among the lowest ratios in the industry. Coverage of non-performing financing assets stood at 95.1 percent at the end of September 2026, providing a substantial buffer against potential credit risks.
QIB's financial position was further reinforced by growth in shareholders' equity, which reached QR31.9 billion as of September 30, 2026, up 7.7 percent from QR29.6 billion at the end of 2025 and 12.2 percent year-on-year. Its capital adequacy ratio, calculated under Qatar Central Bank's guidelines, stood at 23.6 percent, comfortably above the minimum regulatory requirements prescribed by the central bank and the Basel Committee.
Source: Qatar Tribune