Masraf Al Rayan posts QAR 1.7 billion in Net Profit for 2013
Growth in Net Profit 13.2% and Earnings per Share (EPS) QAR 2.27
MAR Invites shareholders to attend the ordinary General Assembly Meeting
Masraf Al Rayan today announced its financial results for the fiscal year ended 31 December 2013, posting a net profit of QAR 1.7 billion, an increase of 13.2% compared to the fiscal year 2012.
The financial results for 2013 were approved by the Board of Directors of Masraf Al Rayan in a meeting convened at 1:30 PM on Monday, January 27th 2014. The Board stated that the audited financial statements of 2013 are subject to Qatar Central Bank's approval and shall be disclosed in detail after obtaining such approval.
On the basis of these results, the Board of Directors are recommending to the General Assembly a cash dividend of QAR 1.50 per share, representing 15% of the paid-up share capital, subject to the approval of Qatar Central Bank.
Dr. Hussain Ali Al Abdulla, Chairman and Managing Director of Masraf Al Rayan, expressed his utmost satisfaction with the results which have been achieved as planned. The results achieved 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 the State of Qatar and it's 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 realization of the 2030 vision.
Mr. Adel Mustafawi, Group CEO - 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.
Mr. Mustafawi explained the results further noting that there was noticeable growth in many activities as total assets reached QAR 66,548 million compared to QAR 61,628 million as of December 31, 2012, a growth rate of 7.98%. Return on Assets reached 2.56%. Financing activities registered a total of QAR 41,440 million compared to QAR 41,719 million as of 31 December 2012, a decrease of 0.67%.
Investments increased to QAR 16,565 million from QAR 14,552 million as of 31 December 2012, an increase of 13.8%. Total customers' deposits also rose to QAR 48,331 million compared to QAR 45,010 million as of 31 December 2012, an increase of 7.4%.
Sshareholders' equity before proposed distribution increased to QAR 10,523 million compared to QAR 9,596 million as of 31 December 2012, an increase of 9.7%. While Book value per share reached QAR 14.03 and Earnings per Share QAR 2.27.
The Board of Directors is pleased to invite all shareholders to attend the annual ordinary General Assembly Meeting to be held at 6:30 p.m. on Monday, March 3rd 2014 at the Fayroz Hall in the Marriott hotel - Doha, Qatar.
Masraf Al Rayan QPSC (Masraf) is a Qatar-based Islamic bank engaged in the provision of banking, financial, investment and brokerage services. The Bank operates in three segments: the Corporate Banking segment provides a range of Islamic funded and non-funded credit facilities, deposit services, investment advisory, currency exchange facilities, profit rate swaps, financing syndication and other services to corporate, commercial and multinational customers; the Retail banking segment provides investment accounts services, credit card and Islamic financing to retail and individual customers, and the Al Rayan Investment segment is structured into two divisions: the management of the Bankâs portfolio of listed and private equities and funds, sukuk and real estate investments, and the development and operation of the Bankâs investment products, asset management and investment placement business.
MASRAF AL RAYAN (Q.P.S.C.) 
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