(MENAFN- Qatar News Agency) ha April 23 -His Excellency Sheikh Dr. Khalid Bin Thani Bin Abdullah Bin Thani Al Thani Chairman and Managing Director of Qatar International Islamic Bank ("International Islamic" or "the Bank") announced the Bank's financial results for the first quarter that ended on March 31 2014. HE Sheikh Dr. Khalid said the Bank's net profit stood at QR 204 Million end of the first quarter of 2014 compared with QR 185 Million in the same period in 2013 representing a growth of 10.2% . There has been a continuous improvement in all operations of the Bank which is reflected in the noticeable growth of International Islamic's total income along with the Bank's customer base. The Bank has contributed to and is a strategic participating member of the Qatari economy which is very strong and growing rapidly under the wise leadership of His Highness The Emir of Qatar Sheikh Tamim bin Hamad Al-Thani. "The Bank's growth is in tandem with Qatar's development" HE Sheikh Dr. Khalid said. He also said that there are plenty of growth opportunities in the Qatari economy and that International Islamic is making all efforts to make the best use of these opportunities and translate them into further growth for the Bank and its shareholders. "These growth opportunities will provide a momentum for all sectors of the economy especially with the approval of the fiscal year 2014-15 budget by HH The Emir of Qatar Sheikh Tamim bin Hamad Al-Thani. The budget is the largest ever in Qatar's history and focuses significantly on upgrading the country's infrastructure. An outlay of QR 87.5 Billion has been provided for completion of some existing projects and to undertake new projects."He further said International Islamic's strategic plan is line with the Bank's expectations and maintains the prescribed schedule. "The good financial performance of the Bank motivates all of us to work even harder and use opportunities both within Qatar and outside to promote growth in accordance with the appropriate due diligence particularly in the area of market risk. International Islamic continues to do well in managing the risk of its financing and investing portfolios" HE Sheikh Dr. Khalid said. (MORE)
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