Shariah-compliant lender Qatar Islamic Bank posted a 13.8% year-on-year rise in net profit during the first half of 2022.

Total net profit attributable to shareholders for the six months ended June 30, 2022 reached QAR1.815 billion ($498.5 million), Qatar's biggest Islamic lender bank said in a statement.

Total assets also went up by 4.8% to QAR193 billion, supported by an increase in investing activities.

Customer deposits at the listed bank now stand at QAR129 billion, up by 3.2% compared to a year earlier, while total income grew 4.2% to QAR4.112 billion.

Total shareholders' equity increased by 11.8% to QAR21 billion compared to December 2021.

(Writing by Cleofe Maceda; editing by Daniel Luiz)

cleofe.maceda@lseg.com