Qatar International Islamic Bank has reported a net profit of QAR501 million, or basic earnings per share of QAR4, for the year ended December 31, 2008, an increase of 4.4% over QAR480 million, or basic earnings per share of QAR3.8, for the same period of 2007.

Total revenue for 2008 was QAR932.8 million, as against QAR805.9 million in 2007. The bank’s net income from financial activities was QAR529.3 million in 2008, compared to QAR397.8 million in 2007.

Abdulbasit Al Shaibei, CEO of Qatar International Islamic Bank, said: “The results achieved are a clear reflection of the sincere work done by the entire staff of the bank as one team.

“During the past year we opened a branch in Al-Mirgab street. This year we are planning to open some branches taking into account public demand and put up ATMs in different locations.”

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