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 year, up from QAR 562.9 million for the corresponding period the year before.

The bank said in a statement to the Egyptian Exchange on Tuesday that assets grew by 9.2% compared to its level in June 2016, and by 5% compared to last December, reached a total of QAR 147 billion.

Financing activities increased by 13.6% to QAR 110 billion, while deposits reached QAR 97 billion, with a growth rate of 2%.