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Qatar Islamic Bank reports higher H1 profit, share lose slightly

Qatar Exchange remained in a stutter mode Wednesday, closing off 0.36% at 8,242.11 points. Qatar Islamic Bank (QIB) revealed a net profit for the first half-year of QR736.9m in comparison to QR703.2m for the same period last year. The Bank's Earning per Share (EPS) amounted to QR 3.12 as of June 30, 2012 versus QR 3.08 for the corresponding period in 2011. QIB added to its statement that "Strong core banking activities have translated into Net Operating Income of QR1,540m for the first half of 2012 which is 18% higher than QR1,302m generated during the same period last year. QIB continues to diversify its income sources, with net fee and commission income increasing by 86% through its wide range of sharia complaint products and services offered by the bank both directly and through its subsidiaries." Barwa Real Estate bucked the trend and ended 1.45% higher at QR28.