Mubasher: The International Bank of Qatar (IBQ) reported a 12% year-on-year increase in its profits for the first half of 2018.
The Qatari lender's net profits amounted to QAR 313 million in H1-18, according to the bank’s recent statement.
Net operating income went up 8% to QAR 464 million in the first six months of 2018, while total assets advanced 14% to QAR 33.6 billion during the same period.
“Our balance sheet remains well capitalised, and our asset quality strong. Cost management was disciplined as always,” Omar Bouhadiba, IBQ's managing director, commented.
The Doha-based bank further noted that customer loans and advances grew 3% to QAR 22 billion.
“We believe that we are well positioned for a good second half performance. While market conditions are challenging,” Bouhadiba added.
