• The earnings per share (EPS) QR 5.18, Board of Directors recommends a dividend 40% of issued Capital (QR 4.0 per Share).
• Growth in Financing Portfolio by 14.4% compared to end of Year 2014
• Total Income grew by 4.6% with net profit QR 784 million.
• Growth In total Assets by 5.6% and Customers Deposits stand at QR 26.6 billion.

His Excellency Sheikh Dr Khalid bin Thani bin Abdullah al-Thani, QIIB Chairman and Managing Director, announced the Bank’s annual results for the financial year 2015, which reaffirmed its strong financial position and capacity to achieve continued growth. 

The results were announced after the conclusion of a meeting of the QIIB Board of Directors headed by HE Sheikh Dr. Khalid, in which the bank’s final statements for the financial year ending 31/12/2015 were discussed.

The financial statements showed that QIIB was able to achieve total income amounting to QR 1.59 bn with a net profit of QR 784.2Mn compared with QR 825.8Mn at the end of 2014.

QIIB has achieved earnings per share (EPS) equivalent to QR 5.18 in 2015. 

QIIB Board of Directors made a recommendation to the Ordinary General Assembly of the bank’s shareholders for distribution of profits equivalent to QR( 4.0 ) per share, unchanged from QR 4 per share in 2014. 

On the occasion, HE Sheikh Dr. Khalid said, “The continuous development achieved by QIIB confirms the active role we are playing in the Qatari economy, which has witnessed, for quite some time, a boom in its various sectors thanks to the support and patronage of His Highness Sheikh Tamim bin Hamad al-Thani, the Emir of Qatar. We are proud to move in tandem with this boom and we believe we will persist and grow even further, with God’s will”. 

He said, “If we look objectively at the results, we will see that development and growth were achieved in various items provisioned in the QIIB budget. The numbers achieved reflect the successful execution of most of the plans and targeted growth rates, although we always seek to exceed expectations as it has a positive impact on the bank and its shareholders alike”. 

HE Sheikh Dr Khalid pointed out that the QIIB’s strategy to focus on the local market is gaining great momentum, in terms of the bank’s active involvement in the execution of development plans and the financing of various projects. These include infrastructure projects and large, small, or medium-sized enterprises, which recently attracted great interest from the bank. QIIB is highly ranked, at the local level, in terms of financing such enterprises and building partnerships with the main goal of supporting and accommodating them. 

HE Sheikh Dr Khalid said, “The bank will remain actively involved in the financing of the various economic sectors, enhancing their performance, and the achievement of interim and strategic objectives so as to serve the development plans and actually participate in the implementation of Qatar National Vision 2030 and its ambitious goals”. 

 “While focusing on the local market in 2015, the bank profited from highly-beneficial, low-risk foreign opportunities. It also strengthened its partnerships in various regional and international markets. This is clearly reflected on a partnership agreement concluded by QIIB with the aim of applying for the opening of a bank in the Kingdom of Morocco. We hope that QIIB will acquire approval this year in order to initiate the establishment of the new bank”. 

 “The bank has an optimistic outlook for the future, despite challenges in the global economic landscape. We draw upon the high levels of liquidity and strength of the Qatari economy as well as its strong characteristics, which provide it with the ability to continue growing and achieve good numbers”.  

The QIIB Chairman and Managing Director also expressed his thanks to the bank’s executive management and employees for their loyal efforts throughout 2015 to achieve good results and continue along the path of success and growth.

He asserted that achieving further development, strengthening the bank’s position, and responding to growing competition are the biggest challenges for QIIB to manage continually.

QIIB Chief Executive Officer, Mr. Abdulbasit Ahmed Al-Shaibei pointed out that the bank’s operating revenues reached QR 1.59Bn in December, 2015 compared with QR 1.52Bn in 2014, a growth of 4.6%.

Customer deposits increased at the end of 2015 to QR 26.7Bn compared with QR 26.6Bn in December 2014, thus registering a growth of 0.1%. 

He said financing assets grew by 14.8% compared to end-2014, whereas QIIB’s assets increased at the end of 2015 to QR 40.6bn compared with QR 38.4bn in 2014, registering a growth of 5.8%.

Total shareholders’ equity amounted to QR 5.6Bn and the capital adequacy in terms of Basel III reached 16.7%, which indicates QIIB’s financial stability and efficiency.

Mr Al-Shaibei affirmed that QIIB’s results for 2015 clearly indicated that the bank was able to maintain its growth rate. Its response to various market factors was also clear and appropriate to meet the challenges. This is certainly due to the fact that QIIB is playing an active role in Qatar’s economy, which witnessed a distinguished performance in its various sectors”. 

The QIIB CEO said, “2015 was a special year for the bank, whether at the local or international level. In Qatar, the bank opened many important branches, including a Corporate Branch at Grand Hamad Street, which serves various types of companies, as well as in Al-Khor , where key clients are served.

“We hope that our expansion policy will match the increase in our customer base in 2015. We hope this growth continues, with God’s will, as we are extremely keen to provide the best Islamic banking services and products to our valued customers”.  

He said, “During the past year, the bank sought to comprehensively enhance its technological infrastructure based on the latest standards, with emphasis on electronic channels such as Internet, telephone and mobile banking services. The bank also continued to provide distinguished products and services that meet clients’ expectations in terms of innovation, Shariah-based banking services. QIIB always focuses on firmly establishing and enriching the Islamic banking experience as well as promoting creativity and innovation therein”. 

With regard to corporate financing, Mr al-Shaibei said, "QIIB is always keen to finance large projects such as infrastructure, industry and transportation, as well as other projects that form the basis of Qatar’s progress and development. In 2015, the bank took new steps towards the financing of small and medium-sized enterprises as part of its strategy to support these essential enterprises.

“In this context, the bank signed two agreements for the financing of small and medium-sized enterprises, one with Qatar Development Bank within the framework of the Al Dhameen programme, and the other with the Logistics Committee at the Ministry of Economy and Commerce and the Economic Zones Company - Manateq - in order to provide necessary financing to investors on appropriate terms in the field of logistics in the south of the country (South Al-Wakrah, Berkat Al-Awamer, Aba Al-Salil). 

"QIIB gives priority to the local market. But that does not mean that the bank is not taking advantage of international opportunities as it continues to implement its active policy of benefitting from overseas ventures so as to enhance growth rates and maximise shareholders’ returns. In this regard, the bank signed a partnership agreement with CIH Bank to submit an application to the Bank of Morocco for the establishment of a bank in the Kingdom of Morocco. This step was made in accordance with a detailed feasibility study carried out by QIIB, taking into account all factors such as the expected return on investment as well as other market factors." 

Concerning human capital, the CEO said, “In order to implement the QIIB strategy that focuses on Qatari staff, efforts were made in 2015 to attract more Qatari men and women. To this effect, the bank organised its second Career Day for Qataris over three consecutive days, which witnessed a heavy turnout of applicants. At this event, the bank offered jobs to some 65 Qataris, both male and female. They were provided with training on latest Shariah-based banking methodologies, placement and promotion opportunities.

“The bank also celebrated the graduation of eight Qataris within its ‘Promising Competencies’ programme, implemented in cooperation with the Qatar Finance and Business Academy. The purpose of this programme is to develop leadership competencies in Qataris and entrust them with important positions in the bank. Qatarisation remains a top priority for QIIB and the bank believes that investing in human capital is the most important and beneficial investment for achieving development”. 

“QIIB pays great attention to all its staff and always seeks to achieve the highest operational efficiency by training its employees on the best and latest banking innovations, or by attracting those with high-level competencies who are capable of qualitatively improving the performance and continuously leveraging the business”. 

In the area of Corporate Social Responsibility, Mr. Al-Shaibei said: “QIIB kept implementing its policy that aims at supporting community programmes, as well as other projects and activities that serve society in line with the bank’s moral and national obligation. In our opinion, all economic sectors must contribute to the development and progress of our society; thus the provision of support and the sponsorship of non-profit activities in education, sports, health, and other community-related activities are an essential part of our strategy”.