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QNB maintains Al-Rayan PT at QAR 34/shr

QNB maintains Al-Rayan PT at QAR 34/shr
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Al Rayan
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Mubasher: Mubasher: Qatar National Bank (QNB) Research has maintained its price target (PT) valuation of Masraf Al Rayan at QAR 34 per share.

Masraf Al Rayan reported on Tuesday a 5% year-on-year profit growth for the third quarter of 2018.

Net profits amounted to QAR 735.1 million in Q3-18, compared to QAR 700.1 million in Q3-17, according to a filing to the Qatar Stock Exchange (QSE).

Earnings per share (EPS) amounted to QAR 4.86 for the three-month period ended September, from QAR 4.63 for the same period of the prior year.

For the first nine months of 2019, the bank’s net profits increased by 4.5% to 1.63 billion, while the lender's assets grew by 1% to QAR 99.63 billion during the same period.

Net profits of the Qatar-based Islamic bank levelled up 4.5% to QAR 1.06 billion during the first six months of 2018, from QAR 1.02 billion in the same period of the prior year.