Qatar Islamic Bank's Q3 net profit down by 53 per cent

Qatar Islamic Bank has announced that its net profit during the third-quarter has witnesses a dip of 53 per cent to QR187.35 million (Dh188.98m) from the corresponding quarter last fiscal.

In the first nine months of the current year, the lender’s net profit figure stood at QR1 billion as compared to QR1.2 billion a year earlier.

Qatar National Bank, the first Gulf Arab Bank has informed that it has posted a dip of 7.5% during the third three month period net profit on lower fee income and a tenfold rise in provisions.