Quotes: 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


The Peninsula

  MENA News Headlines
 Oct 6 2015 - IMF says Iran nuclear deal to boost Mideast economyAFP
(MENAFN - AFP) Iran's landmark nuclear deal will lift economic growth in the war-plagued Middle East next year as the rolling back of sanctions brings a rebound in oil exports, the IMF said ...

 Oct 6 2015 - Abu Dhabi s NBAD is 1 for GCC bonds DealogicEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 6th October 2015 (WAM) --- National Bank of Abu Dhabi (NBAD) the Safest Bank in Emerging Markets and the Middle East by Global Finance magazine is ...

 Oct 6 2015 - ADEC offers public school students an After School Support ProgrammeEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 6th October 2015 (WAM) -- The Abu Dhabi Education Council ADEC has organised an "After School Support Programme" for students for the 2015/2016 ...

 Oct 6 2015 - Four UAE soldiers martyred in AdenEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 6th October 2015 (WAM) -- The General Command of the UAE Armed Forces has announced the death of four of its brave soldiers in Aden during their ...

 Oct 6 2015 - UAE- Ajman Ruler congratulates Egyptian PresidentEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) AJMAN 6th October 2015 (WAM) -- H.H. Sheikh Humaid bin Rashid Al Nuaimi Supreme Council Member and Ruler of Ajman has sent a cable of congratulations to the ...

 Oct 6 2015 - UAE Ambassador to Bahrain attends mass weddingEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) MANAMA 6th October 2015 (WAM) --- Ambassador of the United Arab Emirates to Bahrain Abdul Redha Khouri recently attended a mass wedding for 202 couples with ...

 Oct 6 2015 - Dubai repays US500 million bonds certificatesEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 6th October 2015 (WAM) -- The Government of Dubai acting through the Department of Finance has announced that the US$ 500 million Fixed Rate Note ...

 Oct 6 2015 - UAE- Emirates Airline offers special A380 fares to a host of destinationsEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 6th October 2016 (WAM) --- Travellers in the UAE gearing up for year-end trips can now enjoy special fares to a host of destinations served by the ...

 Oct 6 2015 - UAE-MENA healthcare providers to spend US2.73bn on IT products services in 2015Emirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Dubai 6th October 2015 (WAM) - Healthcare providers in the Middle East and North Africa will spend US$2.73 billion on IT products and services in 2015 ...

 Oct 6 2015 - Dhahi Khalfan opens 2015 edition of Critical Communications Middle East in DubaiEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Dubai 6th October 2015 (WAM) - Lieutenant General Dhahi Khalfan Tamim Deputy Chairman of Dubai Police and General Security led the opening ceremony of the ...




Click to Apply


Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help