Doha-Mubasher: The rise in Qatar Islamic Bank’s (QIB) profit year-on-year (y-o-y) during the first quarter of 2015 is attributed to an improvement in the operating income as well as a decline in provisions, according to a recent report released by Global Investment House.

The Qatar-listed bank reported a y-o-y rise of 19% in net profit to QAR 400 million, according to a filing to Qatar Stock Exchange.

The report showed that the growth in non-financing income resulted from an increase in the fee income, while investment income declined by 3% y-o-y.

The bank maintained a growth in balance sheet during the first quarter and managed to keep its nonperforming loan ratio at the lowest levels.

QIIB’s net financing income was in-line with Global’s estimates, while non-financing income exceeded the forecasts by 8%.