Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar - Masraf Al Rayan's net profit rises to QR1.7bn  Join our daily free Newsletter

MENAFN - The Peninsula - 28/01/2014

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - The Peninsula) Masraf Al Rayan recorded a net profit of QR1.7bn for the year 2013, an increase of 13.2 percent compared to the year 2012.

The financial results for 2013 were approved by the Board of Directors of Masraf Al Rayan in a meeting held yesterday. The Board recommended to the general assembly a cash dividend of QR1.50 per share, representing 15 percent of the paid-up share capital, subject to the approval of Qatar Central Bank (QCB).

Announcing the results, Dr Hussain Ali Al Abdulla, Chairman and Managing Director of Masraf Al Rayan, said the results reflect the bank's strategy implemented in an effective manner to enhance Masraf Al Rayan's standing as one of the leading banks locally and regionally. He also expressed his confidence in the strong economy of Qatar and its growth potential as expected by many in the coming years, which shall allow greater contribution from the financial sector in support of the economic development of the State of Qatar and the realisation of the 2030 vision.

Adel Mustafawi, Group CEO of Masraf Al Rayan, noted that the financial results were achieved due to considerable efforts made by the Board, management and staff supported by a clear vision and action plan which also successfully guided everyone in the Bank to achieve the set objective.

Mustafawi said that there was noticeable growth in many activities as total assets reached QR66.54bn compared to QR61.62bn as of December 31, 2012, a growth rate of 7.98 percent. Return on Assets reached 2.56 percent.

The bank's financing activities registered a total of QR41.44bnn compared to QR41.79bn a year ago, a decrease of 0.67 percent. Investments increased to QR16.56bn from QR14.55bn, up 13.8 percent. Total customers' deposits also rose to QR48.33bn compared to QR45bn, an increase of 7.4 percent.

Shareholders' equity before proposed distribution increased to QR 10.52bn compared to QR9.59bn a year ago, reflecting an increase of 9.7 percent. Book value per share reached QR14.03 and earnings per share QR2.27. The annual ordinary general assembly meeting is scheduled to be held on March 3, 2014.

 






  MENA News Headlines


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help