International Islamic has eyes set on corporate financing expansion

After gaining the leadership position in Shariah-based retail banking, International Islamic has its eyes firmly set on improving its presence in corporate financing, said CEO Abdulbasit A al-Shaibei. Corporate financing is expected to have an exponential growth in Qatar, particularly in the next two to three years. In line with this, the Doha-headquartered lender has activated its trade finance department. Besides, the bank is an active partner with Qatar Development Bank in its initiative to help SMEs flourish. Registering growth across various portfolios of its core business, International Islamic posted a full-year net profit of QR750mn in 2013, up 10.5% on 2012. The bank earned a total revenue of QR1.5bn in 2013. Assets totalled QR34.4bn last year, indicating a 20.5% growth compared to 2012.