Qatar’s Masraf Al Rayan Posts 16.6% Rise In 9-Month Net Profit

Masraf Al Rayan, Qatar’s largest Islamic lender by market value, reported on Monday a 16.6 per cent increase in net profit for the first nine months of the year.

Net profit for the year-to-September 30 was QAR1.4 billion ($384.5 million) compared to QAR1.2 billion in the same period a year ago, a bourse filing said.

The bank did not provide a breakdown of third-quarter earnings. Analysts polled by Reuters on average had forecast a net profit of QAR529.4 million for the three-month period.

It had recorded in July a six-month net profit of QAR904 million, up from QAR821 million in the previous year.