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Masraf Al Rayan’s profit rises 5% in 2018

Masraf Al Rayan’s profit rises 5% in 2018
The Qatari bank logged a profit of QAR 2.13 billion in 2018
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Mubasher: Masraf Al Rayan on Tuesday reported a 6.4% year-on-year increase in profits during the fourth quarter of 2018.

The Qatari bank logged a profit of QAR 500 million ($138.3 million) in Q4-18, up from QAR 470 million ($130 million) during Q4-17, according to a statement to the Qatar Stock Exchange (QSE).

For the full-year 2018, Qatar's second-largest bank by market value posted a 4.9% rise in profits, logging QAR 2.13 billion, compared to QAR 2.03 billion during 2017.

Earnings per share (EPS) hit QAR 2.841 last year, against QAR 2.704 in 2017.

The bank’s board of directors on Monday recommended distributing QAR 2 cash dividends, representing 20% of its capital.