(MENAFN- Qatar News Agency) Qatari investment bank QInvest has reported 86% jump in its net profit to QR 88.7 Million ($24.4m) for the first half financial period ended June 30, compared to QR 47.6m ($13m) for the same period in 2014.
The banks revenue for the first six months of 2015 increased 40% to QR195.6mn ($53.7mn), compared to the QR139mn ($38.3mn) recorded in 2014.
QInvest Chief Executive Officer Tamim Hamad Al Kawari said, "During the first half of 2015, we generated strong performance, despite the on-going volatility across global markets. Profits generated in the past six months alone exceeded those in the year 2014.
"We continued to source new opportunities, strengthen our brand, and deliver returns. We remained focused on executing our pipeline of deal flows, taking advantage of our unique market position to leverage opportunities, and deliver value for clients and shareholders." In the investment banking division, the structured finance business closed nine transactions deploying QR 946.8mn ($260mn), of which QR182mn ($50mn) was syndicated.
Al Kawari said QInvest continues to work on mandates for both sovereign and corporate entities, which the team expects to execute in the second half of the year.
QInvest operates three divisions Investment Banking, Principal Investments and Asset Management in the Middle East, Africa and Europe. It offices in Doha, Riyadh and Istanbul, as well as affiliates in India and the UK.
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