Doha-Mubasher: Watani Investment Company (NBK Capital) set the fair value (FV) of Qatar Islamic Bank (QIB) at QAR 104.8, with the recommendation “Hold”, according to a recent report.

NBK Capital noted that QIB’s net profit rose by 19% to QAR 400 million year-on-year (y-o-y) in the first quarter of 2015, while the y-o-y operational revenues grew by 13%.

The Qatar-listed bank’s capital amounts to QAR 2.36 billion, distributed on 236.3 million shares at QAR 10 par value each.