October 17, 2018 / 1:16 PM / a month ago

Qatar Islamic Bank's Q3 net profit rises 11.5 pct

DUBAI, Oct 17 (Reuters) - Qatar Islamic Bank (QIB), the Gulf state’s largest sharia-compliant lender by assets, reported an 11.5 percent rise in third-quarter net profit as the bank’s income from fees and commission and financing rose.

It made a net profit of 680.0 million riyals ($186.8 million) during the three months to Sept. 30, compared with 610.1 million riyals in the same period a year earlier. The results were broadly in line with forecasts of EFG Hermes, which expected a net profit of 658.2 million riyals and SICO, which expected a profit of 664.1 million riyals.

Qatar National Bank’s <QNBK.QA (QNB) third-quarter net profit rose 3.5 percent, the largest bank by assets in the Middle East and Africa said last week.

$1 = 3.6400 Qatar riyals Reporting by Tom Arnold, editing by Louise Heavens

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