Masraf al-Rayan Q1 net profit up 18.1% to QR511m

Masraf Al Rayan (MAR) net profit of QR 511 Million for the first quarter period ending March 31 this year is an increase by 18.1% compared to QR 432 Million posted for the same period in 2014, the bank said.

MAR Earnings per Share for the same period increased to QR 0.68 compared to QR 0.58 in 2014.

MAR Group Chief Executive Officer Adel Mustafawi said the first quarter financial results include MAR its subsidiaries and affiliates including Al Rayan Bank's Plc results.

Shareholders equity rose 7.3% to QR 10,561 Million compared QR 9,839 Million in Q1 2014.

Return on shareholders'' equity of MAR rose to 19.3% compared to 17.6% for the period ending March 31, 2014.

Book value per share increased to QR 14.1 compared to QR 13.1 in 2014.
Based on Basel-III standards, the MAR reports a capital adequacy ratio of 17.41% compared to 18.65% last year.

Total assets in the first quarter reached QR 83,160 Million compared to QR 69,362 Million in 2014.

MAR's financing business grew 19.9% to QR 83,160 Million compared to QR 69,362 Million in 2014.