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Masraf Al Rayan achieved Profits QAR 328
Million in the first quarter of 2011
Doha, April 29, 2011 -- Masraf Al Rayan - today
announced the financial results for the first
quarter of 2011 and the profits for the period
ending 31 March 2011, achieving a net profit of
Qatari Riyals 328 million, a 8.67% increase
compared to the net profit achieved in the
first quarter of 2010, which amounted to QAR
302 million.
The bank's total assets has increased to QAR
42,199 million, compared to QAR 28,183 million
as on March 31, 2010, thus achieving a growth
of 49.7% .
The financing activities of Masraf Al Rayan has
also witnessed a sharp growth and reached QAR
26,520 million, compared to QAR 20,544 million
as on March 31, 2010, an increase of 29.1%.
The Customer Deposits has increased to QAR
33,735 million, compared to QAR 21,558 million
at the end of first quarter of 2010,
registering a 56.5% growth.
The total shareholder equity has gone up to QAR
7,454 million, compared to QAR 6,244 million at
the end of first quarter 2010 a growth of
20.6%. The Earnings per Share is QAR 0.44
compared to QAR 0.40 at the end of March 2010.
In Addition, book value per Share reached QAR
9.94 compared QAR 8.33 as at 31 March 2010.
These results reinforce the successful policies
of Masraf Al Rayan in managing its banking,
commercial and investment operations in
conformity with the Sharia principles.
Dr. Hussain Ali Abdulla, Chairman and Managing
Director of Masraf Al Rayan, stated that these
results are in agreement with our expectations
and in line with our declaration in the Annual
General Assembly of the Shareholders, which was
held on 28th March 2011. We are confident on
the future prospects and in our strategy that
was approved by the Board of Directors which is
a continuation of the prior years'
Strategy.
Mr. Adel Mustafawi, Group Chief Executive
Officer of Masraf Al Rayan, has reiterated that
Masraf Al Rayan and its management are
committed to achieve better returns to the
shareholders and to provide best services and
products to its customers and to attain a
prominent financial position among the local
and regional Banks.
It is worth mentioning that, Masraf Al Rayan
has opened a new branch in Wathnan Mall, in
Muaither, which provides full banking services.
In addition, Masraf Al Rayan introduced new
banking services including phone banking.
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