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QIB-UK Profit Grows by 19.2% in 2019

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QIB-UK Profit Grows by 19.2% in 2019

QP

QIB Press

Digital Desk

Jan 19, 2020 | 8 Minutes

The 2019 Accounts for QIB (UK) received audit sign off on January 14^th 2020 showing a continued improvement in performance:

QIB (UK) net profit after tax reached £4.43m in 2019 compared to £3.71m for the year 2018, thus marking an increase of 19.2% over last year.

Financing activities now stand at £536m representing a 10% increase over 2018.

Total income for the year 2019 was £13.47m registering 8.5% growth compared to £12.42m for 2018.

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

The cost to income ratio improved to 56% in 2019 as compared to 62% for the year 2018”.

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