Qatar International Islamic Bank Q P S C : Q2 2023

Qatar International Islamic Bank (Q.P.S.C.)

INTERIM CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

30 June 2023

Qatar International Islamic Bank (Q.P.S.C.)

Interim condensed consolidated financial statements

CONTENTS	PAGE(S)
Independent auditor's review report	1
Interim condensed consolidated financial statements:
Interim consolidated statement of financial position	2
Interim consolidated statement of income	3
Interim consolidated statement of changes in equity	4
Interim consolidated statement of cash flows	5
Notes to the interim condensed consolidated financial statements	6 - 24

Independent auditor's report on review of interim condensed consolidated financial statements

To the Board of Directors of Qatar International Islamic Bank (Q.P.S.C.)

Introduction

We have reviewed the accompanying 30 June 2023 interim condensed consolidated financial statements of Qatar International Islamic Bank (Q.P.S.C.) (the "Bank") and its subsidiaries (together the "Group"), which comprise:

• the interim consolidated statement of financial position as at 30 June 2023;
• the interim consolidated statement of income for the three-month and six-month periods ended 30 June 2023;
• the interim consolidated statement of changes in equity for the six-month period ended 30 June 2023;
• the interim consolidated statement of cash flows for the six-month period ended 30 June 2023; and
• notes to the interim condensed consolidated financial statements.

The Board of Directors of the Bank is responsible for the preparation and presentation of these interim condensed consolidated financial statements in accordance with FAS 41, "Interim Financial Reporting" as modified by Qatar Central Bank. Our responsibility is to express a conclusion on these interim condensed consolidated financial statements based on our review.

Scope of Review

We conducted our review in accordance with the International Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity". A review of interim financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying 30 June 2023 interim condensed consolidated financial statements are not prepared, in all material respects, in accordance with FAS 41, "Interim Financial Reporting" as modified by Qatar Central Bank.

Other matter

The 30 June 2022 interim condensed consolidated financial statements were reviewed, and the consolidated financial statements as at and for the year ended 31 December 2022 were audited, by another auditor, whose review and audit reports dated 25 July 2022 and 13 February 2023 respectively, expressed an unmodified review conclusion and an unmodified audit opinion thereon.

25 July 2023	Yacoub Hobeika
Doha	KPMG
State of Qatar	Qatar Auditor's Registry Number 289
	Licensed by QFMA: External
	Auditor's License No. 120153

Qatar International Islamic Bank (Q.P.S.C.)

INTERIM CONSOLIDATED STATEMENT OF INCOME

For the three-month and six-month periods ended 30 June 2023

		For the three-month period				For the six-month period
		ended 30 June				ended 30 June
		2023	2022				2023	2022
		(Unaudited)			(Unaudited)				(Unaudited)				(Unaudited)
	Note	QR'000			QR'000				QR'000				QR'000
Income from financing activities		557,417	421,367	1,086,325	848,258
Net income from investing activities		194,354	105,885	364,605	195,848
Total income from financing and net income
from investing activities		751,771		527,252		1,450,930		1,044,106
Fee and commission income		91,452	98,657	176,490	184,495
Fee and commission expense		(23,983)	(20,425)	(48,842)	(38,112)
Net fee and commission income		67,469			78,232				127,648				146,383
Net foreign exchange gain		22,441	18,778	43,926	38,428
Net share of results of investment in associates		15	(873)	446	(12,128)
TOTAL INCOME		841,696			623,389				1,622,950				1,216,789
Staff costs		(45,289)	(39,757)	(86,121)	(78,798)
Depreciation of fixed assets and amortisation of		(5,626)				(13,677)
intangible assets		(7,711)	(15,685)
Other expenses		(38,247)	(33,245)	(74,884)	(65,999)
Finance expense		(132,436)	(41,603)	(229,779)	(78,515)
TOTAL EXPENSES		(221,598)			(122,316)				(404,461)				(238,997)
Net impairment losses on due from banks		(678)	(154)	(668)	(232)
Net impairment reversals / (losses) on investment		572				10,597
securities		(611)	(1,083)
Net impairment losses on financing assets		(94,625)	(91,280)	(148,355)	(120,064)
Impairment loss on investment in associate		-	-	(32,656)	-
Net impairment reversals on off balance sheet		14,188				17,864
exposures subject to credit risk		15,038	6,644
NET PROFIT FOR THE PERIOD BEFORE
RETURN TO INVESTMENT ACCOUNT
HOLDERS		539,555	424,066	1,065,271	863,057
Investment account holders' share of profit		(240,388)	(147,819)	(450,188)	(291,948)
NET PROFIT FOR THE PERIOD		299,167			276,247				615,083				571,109
BASIC AND DILUTED EARNINGS PER
SHARE (QR PER SHARE)	17	0.20		0.18		0.41		0.38

The attached notes 1 to 23 form part of these interim condensed consolidated financial statements. Independent auditor's review report is set out on page 1.

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