Masraf Al Rayan Announces Net Profit of QR 1.02 Billion in H1 2017

Doha, July 17 (QNA) - Masraf Al Rayan announced today its financial results for the six months ended 30 June 2017, delivering a net profit of QR 1.02 billion, compared to QR 1.05 billion in 2016. The financial indicators showed the earnings per share for the period reached QR 1.36 compared to QR 1.40 for the period ended June 30, 2016. The statement revealed that the assets grew by 5.4 percent to reach QR 93,189 million, maintaining a non-performing financing ratio (NPL) of 0.15 percent 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 22.09 percent compared to its peers in the market. On the profitability indicators, Masraf Al Rayan again continued to maintain its leading position with return on average assets at 2.21 percent and return on average equity at 16.37 percent, despite depositors' share of profits increasing by 42.1 percent due to higher cost profits on deposits at local and international levels. (QNA)