DUBAI Jan 20 Qatar Islamic Bank
(QIB), the Gulf state's largest sharia-compliant lender by
assets, more than tripled its fourth-quarter net profit, beating
QIB made a net profit of 364.9 million riyals ($100.2
million) during the three months to Dec. 31, according to
Reuters calculations, compared with 110.6 million riyals in the
same period a year ago.
Analysts polled by Reuters had, on average, forecast a net
profit of 316.5 million riyals for the quarter.
Reuters calculated the quarterly profit based on financial
statements from the bank. Its full-year profit for 2013 was 1.34
billion riyals, up from 1.24 billion riyals in 2012, according
to a bourse filing on Monday.
QIB added in the statement that its board had recommended a
cash dividend of 4 riyals per share for 2013. This is higher
than the 3.75 riyals per share paid for the previous year.
(Reporting by David French; Editing by Andrew Torchia)