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Masraf Al Rayan announces a net profit of QAR 2,130 million in 2018 With the growth of 5.04% Proposed cash dividend of QAR 2 per share AGM set on 25 February 2019

Jan 22 2019

Masraf Al Rayan announced today its financial results for the year ended 31 December 2018, delivering a net profit of QAR 2,130 million with a growth of 5.04%.

  • Total assets reached QAR 97,294 million compared to QAR 102,949 million as of 31 December 2017.
  • Financing activities reached QAR 72,164 million compared to QAR 72,097 million as of 31 December 2017, a growth of 0.1%.
  • Investments reached QAR 19,531 million compared to QAR 23,944 million as of 31 December 2017.
  • Customers' deposits reached QAR 61,569 million compared to QAR 62,531 million as of 31 December 2017.
  • Shareholders' equity before distribution reached QAR 13,277 million compared to QAR 13,191 million as of 31 December 2017, a growth of 0.7%.

Financial Ratios
  • Return on average assets continues to be one of the highest in the market at 2.13%
  • Return on average shareholders' equity of the bank, before distribution, is 16.10%
  • Earnings per share for the year reached QAR 2.841, compared to QAR 2.704 for 2017
  • Book value per share, before distribution, is QAR 17.70, compared to QAR 17.59 on 31 December 2017
  • Capital adequacy ratio reached 19.23% compared to 19.32% on 31 December 2017
  • Operational efficiency ratio (cost to income ratio) is at 24.06% and continues to be one of the best in the region
  • Non-performing Financing (NPF), analogous to non-performing loans, ratio of 0.83% continues to be one of the lowest in the banking industry, reflecting a very strong and prudent credit risk management policies and procedures

With regard to the rating of Masraf Al Rayan, Moody's Global Investors Services reaffirmed the outlook for Masraf Al Rayan to "stable" and therefore the current rating of Masraf Al Rayan is A1 / Prime-1 with a stable outlook. This rating reflects the bank’s strong government-linked position in the State of Qatar, its ability to diversify sources of income, stability in asset quality and a low NPF ratio.

Masraf Al Rayan Products:
Masraf Al Rayan pays great attention to improving its products and providing integrated Sharia compliant financing solutions to retail and corporate customers alike. Masraf Al Rayan continues to provide financing solutions to retail customers to meet their diverse needs as our services have been expanded as follows:
  • Expanding Premier Banking Services to Premium Customers with salary of more than QR 50,000 by opening a new dedicated branch at the East Plaza Mall in Al Hilal.
  • Introduction of Masraf Al Rayan Certificate of Deposit (CDs) with higher expected profit rates than conventional deposits, for current and new customers.
  • Successfully completion of the draw for the winners of the special offer to win one of the 2018 World Cup packages to Russia. The four winners were from the holders of Al Rayan Credit Cards. The offer was in cooperation with Visa, and the draw was attended by representatives from the Ministry of Commerce and Industry.
  • Provide a variety of financing offers annually for citizens and expats.

On the other hand, the listing of Al Rayan Exchange Traded Fund (ETF) in Qatar Exchange during 2018 has been a huge success, as it is one of the largest Shariah-compliant funds in emerging markets. This fund, which is traded on the stock exchange follows "Al Rayan Islamic” index, a stock index of 20 Shariah-compliant equities. It is managed by Al Rayan Investment.

Human resources and training
Management at Masraf Al Rayan has been devoting utmost attention to the process of training and development of employees. The Bank's departments work in an integrated and diligent manner to raise the competencies of its professional and administrative staff in cooperation with various local and international specialized training centers (QFBA, Fitch, Thomson Reuters). The number of training packages performed exceeded 15,650 training hours during 2018, covering various theoretical and hands-on training programs.

The Bank has also supported local universities and business, management and banking schools by providing students with vocational training opportunities as part of its social responsibility to develop a promising Qatari banking generation, such as our participation in the “Kawader” program being offered by the Qatar Financial and Business Academy. This is in addition to the introduction of FITCH electronic technical education service, which aims to raise the level of our employees involved in the banking, financial and specialized banking.

In terms of our ongoing social responsibility initiatives, we support local universities and Qatar Schools of Banking and Business Management by providing students with hands-on vocational training opportunities to develop and prepare a promising banking generation of Qatari students as well as the Bank's active participation in country professional job fairs.

In keeping with the safety of our staff, we continue to train our staff on the principles of first aid and fire fighting in addition to preparing a rapid response team in the event of disasters.

Sound Corporate Governance at Masraf Al Rayan
In recognition of the importance of governance that will enhance oversight, achieve justice and safeguard the rights of others, we are working diligently to follow the latest applications and take the best practices that lead us to achieve good governance at Masraf Al Rayan, following the policy adopted by the Board of Directors in this regard, and abide by the rules of governance issued by the official regulators in the country, which in turn are in line with international rules of governance.

Social and environmental responsibility
We continue to do our duty to the environment and society, and we are driven only by our deep belief in the importance of our participation in preserving them because they are the foundation of our continued existence and the development of our business. We strive to provide everything that preserves the rights of others to life at the level that suits them, and in creating an advanced conscious society that will benefit from the available energies and possibilities and preserve them for future generations.

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