Qatar Islamic Bank QPSC (QIBK)

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News

11 February 2018 05:07 PM QIB loses QAR 1m after divesting from Asian Finance Bank

Mubasher: Qatar Islamic Bank expected QAR 1 million in losses after exiting from the Asian Finance Bank (AFB), according to the Qatar-based lender's statement on Sunday. The projected loss is resulted from the fall of the exchange rate of …

Corporate Actions

8 February 2018 10:33 AM QIB sells 60% stake in Asian Finance Bank

Mubasher: Qatar Islamic Bank (QIB) on Thursday said that it has sold its 60% stake in the Asian Finance Bank (AFB) to Malaysia Building Society Bhd (MBSB). The agreement was signed on 4 November 2017, but the largest Qatari Islamic bank by total …

Mergers and Acquisitions

18 January 2018 04:41 PM QNB maintains SAR104/shr TP for QIB

Mubasher: Qatar National Bank (QNB) on Thursday has maintained its target price (TP) of Qatar Islamic Bank’s (QIB) at QAR 104 per share, buoyed by the announcement of the lender’s fourth-quarter financial results. The new PT is 6.1% above the …

Financial Results

8 October 2017 08:56 AM QIB inks deal with Qatari SME Ibn Ajayan Trading

Mubasher: Qatar Islamic Bank (QIB) on Sunday announced entering into a strategic partnership agreement with Ibn Ajayan Trading Group, allowing QIB to become the equipment dealer’s “preferred financing partner.” Under the deal, Ibn Ajayan Trading …

Banking and Finance

18 July 2017 07:35 PM QIB profits up 10% in H1-17

Mubasher: Qatar Islamic Bank (QIB) has reported a 10% rise in net profits for the first half of the year, as it achieved profits of QAR 1.165 billion, according to a bourse filing. Profits totalled QAR 609.7 million in the second quarter of the …

Financial Results

11 June 2017 02:41 PM S&P downgrades QNB outlook

Doha – Mubasher: Standard and Poor’s (S&P) on Sunday announced downgrading its long-term outlook for Qatar National Bank (QNB) to "A" from "A+". The global ratings agency attributed the downgrade to Qatar’s sovereign credit outlook, which was also …

Macroeconomics

24 May 2017 10:33 AM QIB inaugurates new branch

Doha – Mubasher: Qatar Islamic Bank (QIB) announced the opening of its newest branch at Doha Festival City, the bank said on Wednesday. The new branch will operate from Saturday until Thursday from 9:00 am to 2:30 pm and from 3:30 pm to 9:00 pm. …

Event

17 May 2017 10:49 AM QIB prices 5-year RegS sukuk

Doha – Mubasher: Qatar Islamic Bank (QIB) on Wednesday announced pricing a $750 million, five-year RegS sukuk, issued at par with an annual profit rate of 3.251% (payable semi-annually). The issue of these sukuk will stand for a spread of 135 …

Management Decisions

11 May 2017 04:00 PM QInvest profits drop to QAR 15m in Q1

Doha – Mubasher: QInvest on Thursday announced a 59.46% drop in its profits for the first quarter of 2017, compared to Q1-16. Profits amounted to QAR 15 million ($4.12 million) in Q1-17, compared to QAR 37 million ($10.15 million) in Q1-16, …

Financial Results

11 May 2017 10:31 AM QIB to authorise 6 banks for sukuk issue

Doha – Mubasher: Qatar Islamic Bank (QIB) on Thursday announced assigning six banks to issue sukuk in US dollars, namely Citi, Emirates NBD Capital, HSBC, Noor Bank, Qinvest, and Standard Chartered Bank, according to a filing to the Qatar Stock …

Macroeconomics

9 May 2017 05:14 PM QInvest, GCC investor to establish investment fund

Doha – Mubasher: QInvest, a subsidiary of Qatar Islamic Bank (QIB), on Tuesday announced its collaboration with a GCC institutional investor to launch the Magnolia Real Estate Fund. The Qatari bank announced its acquisition of an asset located in …

Management Decisions

7 May 2017 10:06 AM Moody’s assigns 'A1' to QIB’s local, foreign currency deposits

Doha – Mubasher: Moody’s Investors Service (Moody’s) assigned a first time rating of "A1" to Qatar Islamic Bank’s (QIB) local and foreign currency deposit, with a “Stable” outlook. Moody’s said that QIB owns solid asset quality and sound capital …

Companies Investments

19 April 2017 00:18 PM Al Baraka Turk Murabaha totals $213m

Mubasher: Al Baraka Banking Group said that the value of Al Baraka Turk Participation Bank’s banking facility Murabaha stands at $213 million, according to a bourse statement issued on Wednesday. This Murabaha loan is earmarked for expanding Al …

Banking and Finance

17 April 2017 06:52 PM QNB sets a PT for QIB’s stock at QAR 104

Doha – Mubasher: Qatar National Bank (QNB) has set its price target (PT) for Qatar Islamic Bank's (QIB) stock at QAR 104, after QIB reported positive financial results for the first quarter of 2017. The PT is 2.9% higher than the stock's closing …

Management Decisions

17 April 2017 06:46 PM QIB, Daweoo E&C ink QAR 1bn deal

Doha – Mubasher: Qatar Islamic Bank (QIB) on Monday said it has signed a QAR 1 billion financing agreement with Daewoo Engineering and Construction Company (Daewoo E&C). The agreement was signed at QIB’s headquarters, according to a filing to the …

Macroeconomics

16 April 2017 03:20 PM QIB profits up 13% in Q1

Doha – Mubasher: Qatar Islamic Bank (QIB) on Sunday reported an increase of 12.8% in profits for the first quarter of 2017, compared to the same period in 2016. Profits reached QAR 555 million ($152.36 million) in Q1-17, compared to QAR 492 …

Financial Results

19 March 2017 00:21 PM QInvest Bank, SQN Capital launch fund

Doha – Mubasher: QInvest Bank, affiliated to Qatar Islamic Bank (QIB), launched oversubscribed QInvest SQN Income Fund in cooperation with SQN Capital. The fund, which is a Sharia-compliant closed-ended fund, provides an opportunity for investors …

Mutual Funds

5 March 2017 00:43 PM QInvest to develop 200-unit complex

Doha – Mubasher: QInvest, in partcipation with a GCC investor, has acquired a plot of land on South Boulevard in Charlotte, North Carolina, US.  The property will be developed into a 200-unit multifamily apartment complex. The company has acquired …

Companies Investments

21 February 2017 06:53 PM MubasherTrade sets PT for QIB at QAR129.7/shr

Cairo - Mubasher: MubasherTrade Research initiated their coverage of Qatar Islamic Bank (QIB) with a Buy/Moderate Risk recommendation, and set the stock’s price target (PT) at QAR 129.7, according to a recent report. The research firm valuates QIB …

Ratings

8 February 2017 03:00 PM QInvest posts positive results in 2016

Doha – Mubasher: QInvest achieved QAR 22.5 million ($6.2 million) in net profits attributed to shareholders, following the adoption of a new provisioning policy, according to a statement. The policy aims to help the company “absorb any …

Financial Results

6 February 2017 10:12 AM QIB OGM to discuss annual dividends 21 February

Mubasher: Qatar Islamic Bank (QIB) said Monday that it will hold its ordinary general meeting on 21 February to discuss the distribution of cash dividends of QAR 4.75 per share (47.5% of the share’s nominal value) for fiscal 2016. The bank set 28 …

Cash Dividends

19 January 2017 10:36 AM QIIB stock down 0.36% despite quarterly profits

Doha – Mubasher: The Qatar International Islamic Bank’s (QIIB) stock declined in Thursday’s early trading by 0.36% to QAR 109.6. By 10:30am Doha time, trading volume reached 68,540 exchanged through QAR 7.45 through 71 transactions. QIIB’s profits …

Trading Activities

18 January 2017 05:53 PM QIB profits rise 0.2% in Q4

Doha - Mubasher: Qatar Islamic Bank (QIB) reported a 0.2% growth in net profits to QAR 545 million ($149.6 million) in the fourth quarter of 2016 compared to QAR 544 million ($149.33 million) in the same quarter in 2015. Earnings per share (EPS) …

Financial Results

29 December 2016 04:06 PM QIB to discuss Q4 statements on 18 January

Doha – Mubasher: Qatar Islamic Bank's (QIB) board will hold a meeting on 18 January to discuss the financial statements for the period ended 31 December. The meeting will also tackle the dividends distribution proposal, according to a bourse …

Event

27 October 2016 04:12 PM QSE-listed banks’ profits rises 2.6% in Q3

By: Mohamed Farouq Doha – Mubasher: The financial statements of the nine banks listed on the Qatar Stock Exchange (QSE) for the third quarter of fiscal 2016 showed a year-on-year rise of 2.6% in their profits. Total profits of the nine banks for …

Financial Results