(The Group’s Comments) Masraf Al Rayan Net Profits Up by QAR 1.07 Billion in the First Half of 2019

July 16, 2019

Profits: amounted to QAR 1,078.1 million in the first half of 2019, an increase of 1.1%, compared to QAR 1,065.9 million. The bank’s earnings per share reached QAR 0.144 versus QAR 0.142. As for second quarter, the bank posted a profit of QAR 533.8 million, compared to QAR 534.8 million for the corresponding period of 2018.

Operating Income: total revenues amounted to QAR 2,548.3 million in this half, an increase of 4.8% or QAR 117 million, compared to QAR 2,431.6 million in the first half of 2018. This climb is due in most to the Bank's main activities (financing and investment).

Expenses: increased by 4.3% to QAR 31.5 million despite the fact that the Bank has refunded a provision of QAR 5.8 million to finance revenues, which had a positive impact on expenses of about QAR 13.7 million. However, the increase in financing expenses by QAR 35 million led to the increase of this item, the proportion of expenses to revenues amounted to about 29.8%.

Assets: financing assets increased by 2.3% compared to the same period in 2018, and investment account holders' balances climbed by 1.9% to reach QAR 57.15 billion, compared to QAR 56.08 billion at the end of June 2018.