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QIB (UK) reports Profit of £1.94m in H1 2019

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QIB (UK) reports Profit of £1.94m in H1 2019

QP

QIB Press

Digital Desk

Jul 25, 2019 | 8 Minutes

The results for H1 2019 demonstrate a satisfactory performance in challenging market conditions and include a number of positive indicators.

QIB (UK) net profit after tax for H1 reached £1.94m compared with £1.91m in the same period of 2018, an increase of 2% over last year.

Financing activities now stand at £491m representing an 18% increase over June 2018.

Total income for the half year was £6.6m registering 7.6% growth compared to £6.1m in 2018.

The ratio of non-performing financing assets to total financing assets (NPF Ratio) remains low at 0.9% with 100% provision coverage.

The cost to income ratio in H1 2019 was 61% compared to 63% for the same period in 2018.

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