Qatar Islamic Bank said its Q1 2024 net profit rose 5.5% to 955 million riyals ($262 million).    

The net profit missed analysts’ mean estimate of QAR 1.05 billion, according to LSEG data.

Total income for the period was QAR 2.81 billion, the lender said in a statement on Wednesday.

Total assets as of 31, March 2024 stood at QAR 192 billion, up 7.7 year-on-year.

Net income from financing and investing activities rose 19% to QAR 2.58 billion.

Customer deposits rose 4.4% YoY to QAR 123 billion  

(Writing by Brinda Darasha; editing by Seban Scaria)