Complex Made Simple

Qatar Islamic Bank sees 8.7% net profit dip

Qatar Islamic Bank (QIB), the country's second-largest lender by market value, has reported an 8.7% fall in second-quarter net profit, missing analysts' expectations, Reuters has reported. QIB made a net profit of QR348.9m ($95.8m) for the quarter, down from the QR382m the lender recorded a year earlier and below analysts' average forecast of QR397.8m. Net income for the first six months of the year rose 5% to QR736.9m, compared with the year-earlier period.