Mubasher TV
Contact Us Advertising   العربية

Masraf Al Rayan’s net profit declines 9.5% in Q4-17

Masraf Al Rayan’s net profit declines 9.5% in Q4-17
Masraf Al Rayan’s net profit declines 9.5% in Q4-17
Al Rayan
MARK
0.59% 2.37 0.01

Mubasher: Masraf Al Rayan on Wednesday reported a 9.5% year-on-year drop in its net profits in the fourth quarter of 2017.

Net profits of Qatar's second-largest bank by market value reached QAR 466 million ($129.2 million) in Q4-17 compared to QAR 515 million in the same period a year earlier, according to a filing to the Qatar Stock Exchange (QSE)

The lender’s total assets rose 12.5% to QAR 102.949 million at the end of 2017 from QAR 91.531 million at the same period the previous year.

The bank said that loans grew 6.6% to QAR 72.097 million in 2017 versus QAR 67.635 million in 2016, while deposits levelled up 3.8% to 13.19 million from QAR 12.7 million.

In the first nine months of 2017, Al Rayan’s net profits increased 0.13% to QAR 1.562 billion from QAR 1.56 billion in the corresponding period a year ago.

Earnings per share reached QAR 2.704 in 2017, compared to QAR 2.767 in 2016, the Qatari lender said.

The bank’s board recommended a cash dividend distribution of QAR 2 per share to shareholders.