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.