Masraf Al Rayan Net Profit Rises 4% to QR1.06 billion in 1^st Half of 2018

Masraf Al Rayan’s net profit amounted to QR1.06 billion in first half of 2018, an increase of 4.5% compared to QR1.02 billion for the same period of the previous year, while the bank’s earnings per share recorded QR1.421 in the first half of 2018 compared to QR1.360 in the same period in 2017.

The Group’s Comments:

Al Rayan's total revenues rose by 18% to QR2.43 billion in the first half of 2018 as a result of the bank’s increased financing activities, while its total expenses increased by 54.8% to QR727.7 million, of which QR397.6 million were financing expenses – i.e., the Bank received significant funds to support its operations. The share of unrestricted investors increased by 5.8% to QR608.1 million, although the balance of those accounts increased by only 3.2% to QR55.9 billion. The Bank's net profit for the first six months of 2018 climbed to QR1,065.9 million, 4.5% more compared to the corresponding period of 2017. The P/E ratio stood at a multiple of 13.1 as of the morning of Tuesday, July 17.