Masraf Al Rayan has posted a net profit of QR2.08bn in 2016, the bank said yesterday. 
The bank’s total assets reached QR91.5bn in December compared with QR83.3bn in December 2015, which represents a growth of 9.8%.
Financing activities increased QR67.6bn as of December last year compared to QR62.5bn in the same period in 2015, a growth of 8.1%. Investment reached QR14.5bn as of December 2016.
Customers’ deposits totalled QR58bn in 2016 compared with QR55.6bn in the same period last year, which indicates a growth of 4.3%.
Shareholders’ equity, before distribution, reached QR12.7bn in December, up 5.5% on QR12bn on December 2015.
Masraf Al Rayan said its return on average assets continued to be one of the highest in the market at 2.37%.
The return on average shareholders’ equity, before distribution, reached 16.77 % in December 2016 compared to 17.72% in 2015, the bank said. 
Earnings per share for the period reached QR2.76 compared to QR2.76 in end-2015.
Book value per share, before distribution, reached QR16.94 compared to QR16.06 in December 2015. Capital adequacy ratio reached 18.85% (using Basel-III and QCB standards) compared to 18.54% in December 2015, Masraf Al Rayan said.
Masraf Al Rayan’s board of directors at a meeting held here yesterday recommended a cash dividend distribution of QR2 per share, representing 20% of the paid-up capital. 
The recommendation, however, is subject to the approval of the shareholders, at a general assembly meeting, scheduled to be held on April 25, after obtaining the approval from the Qatar Central Bank.   
Masraf Al Rayan’s chairman and managing director Dr Hussain al-Abdulla said, “The results are good given market conditions as 2016 witnessed many events that dominated the economic landscape. This includes the substantial decline of oil prices, which led to many countries in the region to adapt more conservative policies and take strong actions to control public spending in order to mitigate the effects of declining revenues”. 
Dr al-Abdulla emphasised that given the market conditions the bank focused on protecting its capital, asset quality, performance and operational efficiency indicators. The bank continues to be one of the leading banks among its peers with capital adequacy ratio at 18.85%, highest asset quality with NPL at 0.16% combined with one of highest operational efficiency indicator of cost-income ratio at 18.09%. As a result, Masraf Al Rayan’s financial performance ratios also remain one of the best with ROAA and ROAE at 2.37% and 16.77% respectively. 
“We will continue to exert every effort possible to ensure that our objective of enhancing value for our shareholders, customers and other stakeholders remain our priority,” Dr al-Abdulla said. 
Masraf Al Rayan Group chief executive officer Adel Mustafawi pointed to that fact that the bank’s growth in 2016 was limited due to liquidity constraints in the market. 
“As a result the bank was negatively impacted by the increased cost of deposits and other funding sources. Despite these circumstances the bank’s financial position and performance continue to be strong,” Mustafawi said. 
In August 2016, Moody’s Investors Service, upgraded Masraf Al Rayan’s long term issuer ratings to A1 from A2 and counterparty risk (CR) assessment to Aa3(cr) from A1(cr).