(The Group’s Comment) Masraf Al Rayan Net Profit Rises by 1.2% to QAR 1.65 billion in the 3rd Qarter 2019

 

Ø  Profits: Profits for the first 9 months of 2019 amounted to QAR 1653.4 million compared to QAR 1631.9 million, a percentage growth of 1.32%. Earnings per share amounted QAR 0.220 versus QAR 0.218. Concerning the 3rd quarter profits the Bank registered a profit of QAR 577.2 million compared to QAR 567.9 million for the same quarter last year 2018.

Ø  Operational revenues: Total revenues under this item amounted to QAR 3895.6 million compared to QAR 3662.1 million, a growth of QAR 233.5 million representing an increase percentage of 6.38%. The increase is substantially resulted from the Bank’s core activities (Financing and Investment).

Ø  Expenses: increased by 7.5%, an amount of QAR 80.0 million, a result of the increase in cost of financing by QAR 63.0 million along-with the cost of employees by QAR 14 million.

Ø  Assets: Financing assets increased by 4.11% compared to the same period last year 2018. Also, the balances of the investments accounts holders has increased by 4.11%. Financing assets constitute the main source of revenues by 71.9% of the total assets of the Bank.