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Masraf Al Rayan achieves a net profit of QAR 2,178 million during 2019 an increase of 2.3% QAR 0.225 per share dividends to shareholders Ordinary General Assembly meeting to be held on 18 March 2020

Jan 20 2020

Doha, 20 January 2020

Masraf Al Rayan today announced that it achieved a net profit of QAR 2,178 million during the year ended 31 December 2019, a growth of 2.3% from the previous year. During its meeting held on 20 January 2020, the Board of Directors proposed to distribute a cash dividend of QAR 0.225 per share (22.5% of the paid-up capital), for recommendation to the Ordinary General Assembly on its meeting to be held on Wednesday, 18 March 2020, after obtaining the approval from Qatar Central Bank. The election of the Board Members for the fifth term (2020-2022) will also be held during the meeting.

HE Dr. Hussain Al Abdulla, Chairman and Managing Director, said: “The results achieved are satisfactory especially in light of the conditions the region witnessed in general, the high borrowing and deposit costs , as well as the impact of regulations issued by the Qatar Central Bank regarding provisioning on financial assets."

HE Dr. Al Abdulla further stated that maintaining a positive credit rating, enhancing the competencies of employees and developing a modern IT infrastructure are matters of prime importance to the Bank.

Mr. Adel Mustafawi, Group CEO, expressed his satisfaction with the results achieved, and commented that such results were aligned with the overall growth trend of the Qatari economy, reflecting the Bank’s focus on robust asset quality, prudent risk management policies and a conservative lending strategy, while continuously developing and improving customer service standards.

Mr. Mustafa also considered the achieved results as good as it maintained the continuation of the upward line of the performance of Masraf Al Rayan. The net profit for the year 2019 reached QAR 2,178 million a growth of 2.3 % compared to the profits of 2018, while the profits from banking operating activities increased by 7.1% of the same achieved in the previous year.

Mr. Mustafawi presented the financial statements for the year ended 31 December 2019 as follows:
  • Total assets reached QAR 106,397 million, compared to QAR 97,294 million as of 31 December 2018, a growth of 9.4%
  • Financing activities amounted to QAR 74,837 million, compared to QAR 72,515 million as of 31 December 2018, a growth of 3.2%
  • Investments increased to QAR 21,906 million, compared to QAR 19,748 million as of 31 December 2018, a growth of 10.9%
  • Customer deposits totaled QAR 65,613 million, compared to QAR 61,569 million as of 31 December 2018, a growth of 6.6%
  • Total shareholders' equity (before distribution) reached QAR 13,919 million, compared to QAR 13,277 million at the end of 2018, a growth of 4.8%

Financial Indicators
  • Return on average assets continues to be one of the highest in the market at 2.14%
  • Return on average shareholders' equity of the Bank reached 16.02%
  • Earnings per share reached QAR 0.29 compared to QAR 0.28 at the end of 2018
  • Book value per share reached QAR 1.86 compared to QAR 1.77 as of 31 December 2018
  • Capital adequacy ratio, using Basel-III standards and QCB regulations, reached 20.27% compared to 19.23% at the end of 2018
  • Operational efficiency ratio (cost to income ratio) stood at 22.80% and remained as one of the best ratios in the region.
  • Non-performing financing (NPF) ratio reached 1.01% reflecting very strong and prudent credit and risk management policies and procedures

Masraf Al Rayan Products & Services
Masraf Al Rayan continues to focus on providing integrated Sharia-compliant banking solutions for both retail and corporate customers in order to meet their increasing and varied needs, and on developing technology-based banking services made available in various forms and applications to ensure the best customer service at all times.

Al Rayan Qatar ETF
Al Rayan Qatar ETF is one of the largest and most successful Sharia-compliant investment funds that is listed on Qatar Stock Exchange and invests in emerging markets. The fund follows Al Rayan Islamic Index, which is an index of 20 Sharia-compliant shares, and is managed by Al Rayan Investment LLC.

Human Resources and Training
Masraf Al Rayan bestows the highest importance to the training and developing of its employees in general, with a keen focus on developing its Qatari cadres in particular, in line with the strategies of the Bank. Its various departments act in an integrated and diligent manner to raise the professional and administrative competencies and skills of their employees in cooperation with the various state agencies and specialized local and international training centers. The training programs cover various theoretical and hands-on aspects and also include programs for the administrative development of Qataris, such as our participation in the program ‘KWADER’, which is specially designed for the financial sector, and is conducted annually by the Qatar Academy of Finance and Business.

During the year 2019, several projects that achieved tangible results were developed. These projects offered solutions to meet the current and future training needs. They also provided an effective tool to meet various challenges, including the ‘video training’ project and the technical education project ‘Electronic’ from Fitch International, Collier and Quality (ASQ Certification). These projects are destined to upgrade the expertise of our employees in banking and financing.

Our employees were also provided training in first aid and firefighting and a rapid response team was formed to mitigate any unexpected disasters.

Masraf Al Rayan continues to provide support to local universities and Qatari schools in banking and business administration by providing practical vocational training opportunities for students with a view towards developing a promising generation of bankers, as well as by actively participating in professional employment fairs in the country.

Corporate Governance in Masraf Al Rayan
During 2019 the Bank focused on fulfilling all the governance requirements issued by Qatar Central Bank and Qatar Financial Markets Authority, with a view towards achieving enhanced transparency, integrity and protection of rights. Masraf Al Rayan takes pride in being at the forefront in adopting the latest best practices in corporate governance that meet international benchmarks.

Commitment of the Society and the Environment
Masraf Al Rayan is committed to fulfilling its obligation towards the environment and society, by adopting a solid corporate social responsibility culture, which focuses on ethical behavior and contribution to economic development, seeks to improve the quality of life of the workforce and their families as well as strives to develop the local communities and the society in general.

In all its banking activities, the Bank ensures strict compliance with the noble principles of Islamic Sharia. It also focuses on protecting its various stakeholders including employees, suppliers, customers and creditors. Our employees are encouraged to adopt a professional decorum and are also committed to preserving the environment by reducing the consumption of resources such as paper, energy and water. The Bank regularly participates in public health and environmental campaigns organized by the State.

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