Mubasher: Masraf Al Rayan on Monday stated that its consolidated profits inched up 0.83% year-on-year in the second quarter of 2017.

The bank’s profits rose to QAR 509.64 million ($134.02 million) in Q2-17, from QAR 505.44 million ($132.92 million) in Q2-16, according to a bourse filing.

At the level of the first half of 2017, Al Rayan’s profits amounted to QAR 1.02 billion compared to QAR 1.05 billion in the same period in the year before, showing a slight decrease of 2%.

The QSE-listed bank's assets increased 5.4% to reach QAR 93.2 million in the first six months of 2017, compared to QAR 88.4 million in the year-ago period, while investments surged 34.7% year-on-year reaching QAR 19.6 million in H1-17, compared to QAR 14.6 million.

Year-on-year, customers’ deposits grew 5.9% to QAR 61.2 million from QAR 57.8 million.

Masraf Al Rayan’s stock rose 1.45% by the end of Monday and closed at QAR 41.77.