- Revenue increased by 32 percent to QAR 393 million (US$ 108 million)
- Net profit increased by 76 percent to QAR 154 million (US$ 42 million)
QInvest, Qatar's leading private investment group and one of the world’s most prominent Islamic financial institutions, announced, at its Annual General Meeting, that shareholder dividends have doubled after a record year of growth. The Bank demonstrated consistent performance throughout 2015 and recorded its highest revenue since its inception of QAR 393 million (US$ 108 million), up 32 percent, and net profit of QAR 154 million (US$ 42 million) up 76 percent.
H.E. Sheikh Jassim Bin Hamad Bin Jassim Bin Jaber Al Thani, Chairman of QInvest, said:
“QInvest has continued to make great strides to meet ambitious growth targets in order to deliver the returns that our investors expect. Despite challenging global economic conditions and regional market volatility, 2015 was a year of very strong performance and all of our three revenue-generating business lines continued to deliver in line with expectations. We remained focused, since the launch of our strategy in 2013, on delivering high value propositions supported by innovative sharia’a compliant financial solutions. We have approved the doubling of shareholders’ dividends and we look forwards for an exciting 2016.”
Tamim Hamad Al-Kawari, Chief Executive Officer of QInvest, said:
“2015 was a record year for QInvest and demonstrates that the strategy we set three years ago is working. The bank has achieved every one of its objectives, not only in terms of financial performance but also in terms of creating value for clients and shareholders. We are entering 2016 with a focus on continuing to offer superior risk-adjusted products to our clients. We are seeing strong demand for our transactions in Germany, the UK and the US that we are currently marketing and expect some of our older vintage transactions to realise impressive returns within the year.”
QInvest’s results are a reflection of the bank’s ability to continue achieving consistent growth in the coming years; backed by the implementation of the strategy launched in 2013 that has been proving its success. The bank has previously announced the conclusion of a 5-year US$200 million Murabaha facility with a syndicate made-up of local and international investment banks, demonstrating the bank’s strength and setting an excellent benchmark for future borrowing.