Qatar's QIB appoints new chief executive

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(Photo for illustrative purposes only)

(Photo for illustrative purposes only)

Qatar Islamic Bank (QIB), the Gulf Arab state's second-largest lender by market value, said on Satuday it has appointed Bassel Gamal as its chief executive officer.

"He will be responsible for all the companies and institutions affiliated to QIB inside Qatar and abroad," the bank said in a statement.

Gamal, who will assume his duties in February 2013, was senior deputy group CEO in Bahrain's Ahli United Bank Group in charge of corporate banking, financial institutions and treasury and investment among others.

QIB's net profit in the fourth-quarter to Dec. 31, 2012, more than halved due to provisions to QR110m ($30.2m), compared with the same period in 2011, according to Reuters data, missing an average forecast of QR328.58m.

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