Mubasher: Masraf Al Rayan on Monday posted a 5% year-on-year increase in profits for the second quarter of 2018.
Net profits amounted to QAR 534.82 million ($146.92 million) in Q2-18, compared to QAR 509.64 million ($139.99 million) in Q2-17, according to the bank’s statement to the Qatar Stock Exchange (QSE).
For the first half of 2018, net profits of the Qatar-based Islamic bank levelled up 4.5% to QAR 1.06 billion, from QAR 1.02 billion in the same period of the prior year.
Earnings per share (EPS) reached QAR 1.42 for the six-month period ended 30 June, versus QAR 1.36 in the same period of the previous year.
The bank’s assets continued its growth increasing 7.8% to QAR 100.44 billion, the statement showed.
By the end of June, investments inched up 0.3% year-on-year to QAR 19.690 billion, from QAR 19.632 billion in H1-17.
Moreover, customer deposits advanced 2.4% to QAR 62.7 billion in H1-18, versus QAR 61.2 billion in the same period a year earlier.
It is worth noting that Al Rayan’s profits rose 4.1% to QAR 531 million in Q1-18, compared to QAR 510 million in Q1-17.
By the end of Monday’s session, Al Rayan’s stock retreated 0.19% at QAR 35.88.
