The bank’s board of directors yesterday recommended a dividend distribution of QR1.75 per share, or 17.5% of the paid-up capital. This, however, needs to be approved by the general assembly of shareholders after obtaining the approval of the Qatar Central Bank.
The bank’s total assets reached QR83bn in 2015, up 3.7% on the same period in 2014.
Masraf Al Rayan’s financing activities increased to QR62.3bn last year, a growth of 7.5% on 2014.
The bank’s investment increased to QR15bn last year, compared with QR14.8bn in 2014.
Customers’ deposits decreased to QR55.6bn in 2015 compared with QR62.5bn in 2014, a decline of 11.1%.
Shareholders equity, before distribution, reached QR12bn last year compared with QR11.3bn in 2014, a growth of 6.1%.
The bank said its return on assets continues to be one of the highest in the market at 2.5%. Return on shareholders’ equity reached 17.2% last year compared to 17.6% at the end of 2014. Earnings per share (EPS) reached QR 2.7 last year compared to QR2.6 at the end of year 2014.
Capital adequacy ratio reached 18.54% (using Basel-III standards) last year compared to 18.36% on December 31, 2014 based on Basel-II standards.
On the results, Masraf Al Rayan chairman and managing director Dr Hussain al-Abdulla said, “Masraf Al Rayan performance continues to remain strong. We are prudent in our strategy, risk management and decisions making. We continue to be stable and successful despite challenging environment.”
He also praised the “considerable efforts made by the Masraf Al Rayan team to achieve the results in 2015.”
The bank’s group chief executive officer Adel Mustafawi attributed the results to “the will and calculated decision made to place Masraf Al Rayan at higher ranks at the local and regional levels, endorsing the hard work and perseverance of all employees to execute the strategic plans set by the executive management under the prudent instructions from the board of directors, not only to attain the best financial results but also to maintain Masraf Al Rayan’s reputation.”
Mustafawi noted that the published consolidated financial statements include Masraf Al Rayan along with the group subsidiaries and affiliates, including the financial statements of Al Rayan Bank Plc, which has achieved a net profit of £10mn, equivalent to QR57mn.
Meanwhile, the board of directors approved the agenda for the bank’s ordinary general assembly meeting scheduled on February 23 at the Sheraton Doha.
Masraf Al Rayan’s board of directors yesterday recommended a dividend distribution of QR1.75 per share, or 17.5% of the paid-up capital.
