Mubasher: The financial indicators of Masraf Al Rayan showed a 4% year-on-year increase in profits for the first quarter of 2018.

Profits amounted to QAR 531 million ($147 million) in Q1-18, compared to QAR 510 million ($141.2 million) in Q1-17, according to the bank’s statement to the Qatar Stock Exchange (QSE) released late Monday.

Earnings per share reached QAR 0.708 for the period ended 31 March 2018 versus QAR 0.680 for the same period of the previous year.

For the full-year 2017, profits of the parent company of Al Rayan Bank declined 2.3% to QAR 2.028 billion, from QAR 2.075 billion over 2016.

Early in February, Masraf Al Rayan’s board approved distributing cash dividends of QAR 2, representing 20% of the share’s nominal value.