QIIB registers $171m profits in 9 months 2014

Qatar International Islamic Bank (QIIB) said Sunday profits for the first nine months this year have increased by 10 percent to reach 625 million riyals (QAR) (USD 171 million), against QAR 568 million (USD 155 million) in same period 2013.
QIIB Board Chairman and Managing Director, Sheikh Khaled Al-Thani, said in a statement the rise in profits reflected the bank's solid financial position, backed by growth of the Qatari economy.
Sheikh Khaled said QIIB was focusing on dometic market and lucrative investment opportunities.
QIIB CEO Abdulbaset Al-Sheibi said total revenues by end of the third quarter have reached QAR 1.1 billion compared with QAR one billion in the correspondent period last year.
He said deposts in QIIB have risen in this period to QAR 26.3 billion. They were QAR 24 billion by end of third quarter last year.
Total shareholders' equity was QAR 4.13 per share, he noted.