DOHA: Masraf Al Rayan has recorded a net profit of QR1.05bn for the first half of 2016, up 5.3 percent from a year ago. The total assets stood at QR88.4bn for the first half, an increase of 8.3 percent compared to QR81.6bn recorded during the same period in 2015.
Dr. Hussain Al Abdulla, the Chairman and Managing Director of Masraf Al Rayan, said the bank had maintained its growth, despite all the difficult conditions experienced by the financial markets, including the lower oil prices.
Adel Mustafawi, Group CEO said financial results for the first half were in line with the bank’s expectations. The bank bucked all negative market trends, including the difficult conditions led by tightened liquidity.
The bank’s return on assets continued to be one of the highest in the market at 2.38 percent. Return on shareholders’ equity of the bank reached 17.87 percent compared to 18.09 percent for the same period of 2015. Earnings per share for the period reached QR1.401 compared to QR1.331 for the same period of 2015.
Book value per share reached QR15.68, compared to QR14.71 on 30 June 2015.Capital adequacy ratio reached 18.01 percent using Basel-III standards compared to 18.35 percent on 30 June 2015. Operational efficiency ratio cost — income ratio is at 20.08 percent. Non-performing loans (NPL) ratio of 0.08 percent reflects a very strong and prudent credit risk management policies and procedures of the bank.
The bank said it is committed to improve its products, and the development of services provided to customers and to benefit from the rapid development of technologies that provides the greatest flexibility and ease of transactions, taking care to provide those services the high quality equivalent to international standards. Masraf Al Rayan, in coordination with Qatar Exchange and Qatar Financial Market Authority will introduce an investment fund, “Tradable Investment Fund ETF”. The fund will be dealing in equities listed on QE that are compatible with the provisions of Shariah-based on AlRayan Islamic index in QE. The fund will be introduced before the end of 2016.
The Peninsula
DOHA: Masraf Al Rayan has recorded a net profit of QR1.05bn for the first half of 2016, up 5.3 percent from a year ago. The total assets stood at QR88.4bn for the first half, an increase of 8.3 percent compared to QR81.6bn recorded during the same period in 2015.
Dr. Hussain Al Abdulla, the Chairman and Managing Director of Masraf Al Rayan, said the bank had maintained its growth, despite all the difficult conditions experienced by the financial markets, including the lower oil prices.
Adel Mustafawi, Group CEO said financial results for the first half were in line with the bank’s expectations. The bank bucked all negative market trends, including the difficult conditions led by tightened liquidity.
The bank’s return on assets continued to be one of the highest in the market at 2.38 percent. Return on shareholders’ equity of the bank reached 17.87 percent compared to 18.09 percent for the same period of 2015. Earnings per share for the period reached QR1.401 compared to QR1.331 for the same period of 2015.
Book value per share reached QR15.68, compared to QR14.71 on 30 June 2015.Capital adequacy ratio reached 18.01 percent using Basel-III standards compared to 18.35 percent on 30 June 2015. Operational efficiency ratio cost — income ratio is at 20.08 percent. Non-performing loans (NPL) ratio of 0.08 percent reflects a very strong and prudent credit risk management policies and procedures of the bank.
The bank said it is committed to improve its products, and the development of services provided to customers and to benefit from the rapid development of technologies that provides the greatest flexibility and ease of transactions, taking care to provide those services the high quality equivalent to international standards. Masraf Al Rayan, in coordination with Qatar Exchange and Qatar Financial Market Authority will introduce an investment fund, “Tradable Investment Fund ETF”. The fund will be dealing in equities listed on QE that are compatible with the provisions of Shariah-based on AlRayan Islamic index in QE. The fund will be introduced before the end of 2016.
The Peninsula
