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MASRAF AL RAYAN ANNOUNCES A NET PROFIT OF QAR 544 MILLION FOR THE FIRST QUARTER OF 2019

Apr 18 2019

Masraf Al Rayan today announced its financial results for three months ended 31 March 2019, delivering a net profit of QAR 544 million, an increase of 2.5% compared to the profit in the same period of the previous year.

His Excellency Dr. Hussein Al Abdullah, the Chairman and Managing Director of Masraf Al Rayan, expressed his satisfaction with the results achieved because they are close to expectations in unstable international markets, but with significant support from the Government of the State of Qatar, which is carrying out extraordinary measures to maintain growth rates. The Qatar Central Bank seeks to strengthen the stability of the financial market and secure the necessary liquidity and preserve the value of the currency.

Commenting on the results, Mr. Adel Mustafawi, Masraf Al Rayan's Group Chief Executive Officer, said that the results demonstrate the strength and stability of Masraf Al Rayan to maintain its leadership position among Islamic and conventional banks at the local and regional levels. Masraf Al Rayan has achieved outstanding figures indicated by financial indicators as follows:

  • Total assets reached QAR 100,314 million compared to QAR 103,499 million as of 31 March 2018.
  • Financing activities reached QAR 75,878 million compared to QAR 72,585 million as of 31 March 2018, an increase of 4.5%
  • Investments reached QAR 20,041 million as of 31 March 2019.
  • Customer deposits increased to QAR 64,444 million compared to QAR 62,674 million as of 31 March 2018, an increase of 2.8%
  • Shareholders' equity reached QAR 12,329 million compared to QAR 11,737 million as of 31 March 2018, an increase of 5.0%


Financial Indicators

  • Return on average assets continues to be one of the highest in the market at 2.20%
  • Return on average shareholders' equity of the Bank reached 17.00%
  • Earnings per share for the period reached QAR 0.726 compared to QAR 0.708 for the period ended 31 March 2018.
  • Book value per share reached QAR 16.44 compared to QAR 15.65 as of 31 March 2018.
  • Capital adequacy ratio, using Basel-III standards and QCB regulations, reached 19.28% compared to 18.85% as of 31 March 2018.
  • Operational Efficiency ratio (cost to income ratio) stood at 22.78%
  • Non-performing financing (NPF) ratio reached 0.74%, reflecting very strong and prudent credit and risk management policies and procedures
  • Masraf Al Rayan maintains its rating for future outlook at A1 / Prime-1 long term with a stable outlook, and risk assessment of counterparties at Aa3 (CR) according to Moody's Global Investors Services. This rating reflects the stability in the Bank’s asset quality, low NPF ratio and the performance stability since its establishment in 2006.


Masraf Al Rayan Products & Services

Masraf Al Rayan pays great attention to improving its products and providing Sharia'a compliant financing solutions to both retail and corporate customers. Masraf Al Rayan continues to provide retail banking solutions that meet customers’ needs.

Human Resources and Training Senior management at Masraf Al Rayan has set an ambitious plan for this year's Human Resources by focusing on the development of staff, particularly Qatari staff. The training and talent development department of the Bank worked in an integrated and diligent manner to raise the competencies and skills of the staff in cooperation with various state agencies and specialized local and international training centers, which include various types of theoretical and practical training with a focus on training related to the job.

Sound Corporate Governance at Masraf Al Rayan: In recognition of the importance of the corporate governance system, which will enhance institutional oversight, achieve justice and safeguard the rights of others, we are working diligently to follow the latest applications and implement the best practices that lead the way to achieve the concept of good governance, following the policy adopted in this regard by the Board of Directors.

Social and Environmental Responsibility Masraf Al Rayan continues to carry out its mission toward the environment and society from a macro-management perspective, based on a thoughtful approach to the social return of the Bank's various activities in accordance with plans and tools that are in line with the provisions of the Islamic Shariah to support and serve the society in all its categories and entities.

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