Chairman of the Board of Masraf Al Rayan, H E Sheikh Mohammed bin Hamad bin Qassim Al Thani
Doha: Masraf Al Rayan Q.P.S.C yesterday released its consolidated financial statements for the half year ended 30 June 2022 with a net profit attributable to the equity holders of the bank of QR1.03bn.
H E Sheikh Mohammed bin Hamad bin Qassim Al Thani, Chairman of the Board stated: “Masraf Al Rayan’s results announced today are in the backdrop of a successful completion of the key integration activities relating to its merger with al khaliji. We continue to focus on building a strong and diversified business that delivers long term value for shareholders and other stakeholders.”
Commenting on H1 2022 performance, Fahad bin Abdulla Al Khalifa, Group Chief Executive Officer said: “We are pleased to announce results for the first six months of 2022, during which time the team and I put concerted effort in completing the integration journey of the two banks.
Group Chief Executive Officer of Masraf Al Rayan, Fahad bin Abdulla Al Khalifa
This was achieved in a short period of six months since completing the legal merger on December 1, 2021. We are grateful to our customers, regulators, staff and all other stakeholders that contributed in this journey.”
“During this period, we are very proud to have launched the country’s first Sharia Compliant Green Deposit and Islamic Sustainable Financing Framework. Our goal remains to be the bank of choice for our current and potential future customers, delivering innovative Islamic products and services.”
Total Income of the bank reached QR3.27bn, up 29 percent compared to H1, 2021. Net financing assets closed at QR119bn, growing 30 percent year on year. Deposits closed at QR97bn, an increase of 28 percent year on year while the Capital Adequacy ratio stood at 20 percent.
