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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