Doha-Mubasher: Qatar First Bank (QFB) reported a rise in net income by 13% to QAR 158.3 million ($43.5 million) in 2014, compared to QAR 140.5 million ($38.6 million) in 2013.

The bank’s annual general meeting approved a dividend distribution of 8% of the paid up share capital.

CEO Ahmad Meshari said that the bank maintained a strong performance in 2014, despite the challenges facing the banking industry.

The bank managed to improve its investment portfolio through attracting lucrative investment opportunities, he added.