- Qatar Islamic Bank QPSC reported a net income of 2.07 billion riyals for the first half of 2024, marking a 5.6% increase year over year.
- Earnings per share (EPS) rose to 0.87 riyals from 0.83 riyals a year ago.
- Total income for the period reached 5.66 billion riyals, which is a 12% increase from the prior year.
- Total assets of the bank now stand at 192.3 billion riyals, up by 4.9% year over year.
- Customer deposits increased to 122.7 billion riyals, also a 4.9% rise year over year.
- Operating expenses for the first half of the year totaled 571 million riyals.
- The cost to income ratio is currently at 17.7%.
- The non-performing loans ratio is at 1.7%.
- Total impairments amounted to 565 million riyals.
- The bank has a non-performing loans coverage ratio of 95%.
- The capital adequacy ratio stands at a strong 20.7%.
- Qatar Islamic Bank will pay an interim dividend of 0.25 riyals per share.
- Analyst ratings consist of 2 buys and 3 holds, with no sell recommendations.
A look at Qatar Islamic Bank SAQ Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 2 | |
| Growth | 4 | |
| Resilience | 2 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 2.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Qatar Islamic Bank SAQ, a prominent player in the banking sector, has been assessed utilizing the Smartkarma Smart Scores to determine its long-term outlook. With a solid score in growth and momentum, Qatar Islamic Bank SAQ showcases promising potential for expansion and sustained performance in the market. The bank’s focus on Islamic banking services aligns with its Sharia principles, attracting deposits and offering various financial solutions to individuals and businesses.
Despite moderate scores in value, dividend, and resilience, Qatar Islamic Bank SAQ‘s emphasis on growth and momentum positions it favorably for future developments. With a strong foundation in providing financing for local and international projects, leasing assets, and supporting local businesses, the bank is poised for continued growth and market presence in the evolving financial landscape.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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