- Qatar Islamic Bank reported a net income of 3.46 billion riyals for the first nine months of the year, marking a 5.8% increase compared to the same period last year.
- Earnings per share (EPS) rose to 1.46 riyals from 1.38 riyals year-on-year.
- The bank’s total assets grew to 214.69 billion riyals, an 8.7% increase from the previous year.
- Total income slightly decreased to 8.54 billion riyals, experiencing a 0.3% decline from the previous year.
- Impairments were reduced to 706.1 million riyals, showing an improvement of 11% year-on-year.
- Analysts have given the bank four buy recommendations, five hold recommendations, and no sell recommendations.
A look at Qatar Islamic Bank SAQ Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 2 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Qatar Islamic Bank SAQ‘s long-term outlook appears promising based on the Smartkarma Smart Scores. With a strong Momentum score of 5, indicating positive market momentum, the bank is likely to see continued growth and investor interest. Additionally, a Growth score of 4 highlights the potential for expansion and increased profitability in the future, reflecting positively on the company’s outlook.
Although Qatar Islamic Bank SAQ has average scores for Value and Dividend at 2, its Resilience score of 3 suggests a moderate ability to withstand adverse economic conditions. Overall, with a mix of favorable scores, Qatar Islamic Bank SAQ shows promise for long-term growth and sustainability in the Islamic banking sector.
Summary of the company: Qatar Islamic Bank (QIB) attracts deposits and offers Islamic banking services. The Bank operates according to Sharia principles. QIB offers financing for goods purchased locally and internationally and business projects, buys assets which it leases to others, and invests in local businesses. The Bank also offers letters of credit and guarantee.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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