QInvest amasses $1bn of assets in first 11 months

29 May 2008
QInvest, the Islamic investment bank formed by Qatar Islamic Bank, has released its first set of financial results, showing that it has amassed assets worth nearly $1bn in the 11 months to 31 March.

The bank has already been involved in a number of high profile investments, including acting with a group of Middle East investors on the acquisition of an 80 per cent stake the Shard of Glass Tower in London (MEED 18:1:08).

It was also part of the investor group which formed First Energy Bank, with Gulf Finance House (MEED 19:2:08).

QInvest made a profit of $67m in its first 11 months, on revenue of $102m. Annualised return on capital was 14.6 per cent.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications