Masraf Al Rayan Q1 profit rises 5.1% to QR537mn
April 18 2016 10:34 PM
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Masraf Al Rayan on the Grand Hamad Street in Doha. The bank’s total assets reached QR87.4bn in the first quarter compared with QR83.4bn in the same period last year.

Masraf Al Rayan has posted a net profit of QR537mn in the first quarter, up 5.1% on the same period in 2015.
Total assets reached QR87.4bn in the first quarter compared with QR83.4bn in the same period last year. 
The bank’s financing activities reached QR65.4bn in Q1, 2016 compared with QR63.1bn as of March last year, which shows an increase of 3.7%.
Masraf Al Rayan’s investments reached QR14.1bn, while customer deposits totalled QR56.1bn in March this year. 
The bank said its return on assets continues to be “one of the highest” in the market at 2.5%.
The return on shareholders’ equity reached 19.07% in Q1 compared with 19.35% for the period that ended in March last year. 
Book value per share reached QR15.02 in Q1 compared with QR14.08 in March 2015. 
Capital adequacy ratio, using Basel-III standards, reached 18.41% compared with 17.41% in the same period last year, Masraf Al Rayan said. 
The operational Efficiency ratio cost to income ratio was maintained at 19.23%.
“Non-performing financing (NPF) ratio remained at 0.09%, reflecting a very strong and prudent credit risk management policies and procedures,” Masraf Al Rayan said.
Masraf Al Rayan chairman and managing director Dr Hussain al-Abdulla underlined the “prudent approach” taken by the bank to optimise the bank’s resources to overcome the ongoing challenges in the local, regional and global markets emanating from different sources, primarily from the lower oil prices and resultant liquidity challenges.
Group chief executive officer Adel Mustafawi said, “The results represent consolidated financial results including subsidiaries and affiliates; including Al Rayan Bank UK. The announced financial results alongside the key ratios and financial indicators demonstrate once again the resolve and focus of the management and staff in implementing board approved prudent policies and strategies to achieve sustainable performance with an upward trend”. In a statement yesterday Masraf Al Rayan said it “continues to improve and develop its products and services to offer greater flexibility, top notch customer experience and convenience for customers by providing our customers with high-quality products and services in a timely manner and on an ongoing basis without delays in line with international standards.”
It said the management at Masraf Al Rayan “sustains a resourceful strategy to develop all employees and especially Qataris through undergoing training programmes set according to international best practices to achieve the highest goal of customer satisfaction.”




Last updated: April 18 2016 10:34 PM


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