Masraf Al Rayan posted a net profit of QR1.56bn at the end of the third quarter, the bank said yesterday.
One of the leading banks in the entire Middle East, Masraf Al Rayan saw its assets jump 13.4% to reach QR98.6bn in September. 
The bank’s assets totalled nearly QR87bn in September 2016. 
The quality of the bank assets (both financing assets and investments) continues to be one of the highest in the region and globally, maintaining a non-performing financing ratio (NPL) of 0.15%, which “has been maintained consistently within this level” for the last many years. 
Masraf Al Rayan continues to lead the banking sector with one of the best operational efficiency ratio of 21.9% compared to its peers in the market, it said.
On the profitability indicators, Masraf Al Rayan “again continued to maintain its leading position” with return on average assets at 2.19% and return on average equity at 16.35%, despite depositors’ share of profits increasing by 33.6% due to higher cost of profits on deposits at local and international levels.
Masraf Al Rayan’s net profit for the third-quarter period that ended in September increased by 6.5% compared with the similar period in 2016, adjusted for non-recurring investment gain from associates recognised in the first nine months of 2016. 
On the results, Masraf Al Rayan chairman and managing director Dr Hussain al-Abdulla “expressed his satisfaction” given the regional and global market conditions and the many threats that dominated the economic landscape, praising at the same time the “optimal utilisation of assets and resources at the bank to maintain excellent levels of performance and customer service.”
He added that the net profits of Masraf Al Rayan realised from its banking operations “exceeded those achieved” in the same period last year, excluding the non-recurring profit realised from investments in 2016.
Al-Abdulla added that “different due diligence streams and valuation exercises are ongoing” on the three-way merger plan involving Masraf Al Rayan, Barwa Bank and International Bank of Qatar.
Masraf Al Rayan group chief executive officer Adel Mustafawi credited the financial results to the “methodical implementation by the executive management of the prudent strategy set by the Board of Directors, which paved the way to develop high quality assets while maintaining diversity and serving a wide range of customer segments.”
Mustafawi said the consolidated financial statements include Masraf Al Rayan, Al Rayan Bank Plc and other subsidiaries, associates and affiliates. 
He said the bank’s financing activities reached QR68.48bn in September compared with QR66.9bn in the same period last year. Investments reached QR24.11bn in September, up 66.4% on QR14.5bn registered in the same period last year. 
The bank’s customer deposits increased to QR60bn in September, up 6% on QR56.6bn in the same period last year. 
Shareholders’ equity reached QR12.76bn at the end of the third quarter, up 4% on Q3, 2016. 
The bank registered a return on average assets of 2.19%, which continues to be one of the highest in the market; while return on average shareholders’ equity reached 16.35%. 
Earnings per share for the period reached QR2.08 in September, which was at the same level in September 2016. 
Book value per share reached QR17.02 compared with QR16.36 as of September 30.
Capital adequacy ratio, using Basel-III standards, reached 19.17% at the end of the third quarter compared to 17.85% as of September last year.
The bank’s operational efficiency ratio (cost to income ratio) was maintained at 21.94%. Non-performing financing (NPF) ratio remained at 0.15%, reflecting a very strong and prudent credit risk management policies and procedures.