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Qatar's Masraf al Rayan Q1 net up 13pc

Doha, April 23, 2013

Qatar's largest Islamic lender by market value Masraf al Rayan has reported a 13.2 per cent increase in its first-quarter net profit, beating analysts' expectations.

The net profit for the three months to the end of March was QR400 million ($109.9 million) compared to QR353.5 million in the same period a year ago, a company statement said.

Two analysts polled by Reuters had forecast a net profit of 376 and 372 million riyals respectively for the quarter.-Reuters




Tags: Qatar | Masraf Al Rayan | Islamic |

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