QInvest, a leading investment group in Qatar, posted a net profit of $33.8 million in the third quarter of the year, marking an increase of 69 per cent compared to $20 million in the third quarter of 2014

The bank generated revenues of $78.7 million during the period, up 37 per cent compared to $57.5 million in the third quarter of 2014.

Tamim Hamad Al-Kawari, chief executive officer of QInvest, said: “We are very encouraged by our performance during the third quarter of 2015. With our commitment to drive growth and innovation across the business, we have continued to source new opportunities, strengthen our brand and deliver positive returns.”

“Whilst we expect on-going market volatility and economic challenges to remain present, we are confident on the outlook for the business. We have an exciting active pipeline of deal flow and a unique market position to leverage investment opportunities across the GCC region and selected markets in Europe, Asia and the US,” he added.

The Investment Banking division maintained a strong asset growth profile on its innovative Islamic structured finance book with transactions across multiple sectors in Europe and Emerging Markets. The advisory team is active on various M&A and Equity Capital Markets transactions, most notably closing the acquisition of a stake in Boyner Retail & Textile Investments (BRTI), the Turkish retail conglomerate, by a Qatari client.

QInvest’s Sukuk franchise continues to generate international and regional interest in corporate and sovereign issuers, albeit at lower volumes given current market volatility.

The bank’s investment transactions included a blend of income generating property assets in Europe (Germany and the UK) and the US, repositioning of a commercial property asset in Luxembourg, and private rented sector/ multi-family accommodation in the UK.

QInvest also launched a further capital guaranteed note through Qatar Islamic Bank (QIB), its main and largest shareholder. It offers investors upside exposure to a basket of energy companies, in a two-year note, and was very well received by the local market.

The firm also added another fund to its QInvest Managed Account Platform (QMAP) fund platform with the launch of the QInvest Pramerica Liquid Real Estate fund. The fund will give investors access to the global real estate market by investing exclusively in high yielding sharia’a-compliant real estate investment trusts and other real estate-related securities.

The bank also concluded its debut five-year $200 million Murabaha facility with a syndicate of local and international banks. – TradeArabia News Service