Masraf Al Rayan QPSC: REALIZES AN INCREASE IN NET INCOME OF 3.1%

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Masraf Al Rayan announced his financial results for the period ending September 30, 2021 – net profit of QAR 1,713 million, a growth of 3.1% compared to the same period last year.

His Excellency Mr. Ali bin Ahmed Al Kuwari, Chairman and CEO, commented on the results, stating: “We are pleased to see Masraf Al Rayan maintain his performance and continue to grow steadily and strongly, promising good results towards the end of the year. year, despite the circumstances facing the world as a whole, foremost among them the negative consequences imposed by the spread of the COVID-19 pandemic, without forgetting in return the other positive factors that have had a good impact on the markets financial, the most important of which is the presence of a strong and growing economy supported by a significant increase in energy prices. ”

His Excellency added: “The announcement of these good results is accompanied by the success of the Extraordinary General Meeting of Masraf Al Rayan and the approval of the shareholders on the merger between Masraf Al Rayan and Al Khalij Commercial Bank, aimed at achieve the main objectives of the merger, which is to achieve a larger financial institution with a solid financial position and high liquidity that will continue to support added value for our valued shareholders. On the other hand, the merger integration advisor and the work team assigned by the two banks are working on finalizing the technical integration process between the two banks, as well as obtaining other regulatory approvals. necessary to complete the merger process.

As for Mr. Ahmed Sheikh, interim CEO of the group, he explained that these results were in line with expectations, as they were the result of following a clear strategy that the Board of Directors had the merit of developing and following. its implementation using the best means and according to the most precise standards, supported by a qualified team of employees who have played a major role in providing a high level of service to our customers.

Summary of financial results:

  • Total assets amounted to 124,765 million QAR, compared to 116,548 million QAR as of September 30, 2020, representing a growth of 7.1%

  • Financing activities amounted to QAR 87,010 million, compared to QAR 80,775 million as of September 30, 2020, an increase of 7.7%

  • Investments reached QAR 22,213 million as of September 30, 2021, compared to QAR 21,182 million as of September 30, 2020, an increase of 4.9%

  • – Customer deposits amounted to QAR 78,162 million, compared to QAR 66,653 million as of September 30, 2020, an increase of 17.3%

  • – Total equity reached QAR 14,834 million, compared to QAR 13,889 million as of September 30, 2020, an increase of 6.8%

Financial indicators:

  • The average return on assets continues to be one of the highest in the market at 1.86%

  • The average return on equity is 15.64%

  • Earnings per share is QAR 0.228

  • Book value per share reached QAR 1.98, compared to QAR 1.85 as of September 30, 2020

  • The capital ratio, according to Basel III standards and QCB regulations, reached 20.06% compared to 19.52% as of September 30, 2020

  • The operational efficiency ratio (cost / revenue) is 20.77%, which remains one of the best in the region

  • The Non-Performing Funding Ratio (NPF) is 1.46% and is one of the lowest in the banking industry, reflecting strong and prudent credit risk management policies and procedures

Disclaimer

Masraf al Rayan QSC published this content on October 18, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on October 18, 2021 04:21:02 PM UTC.

Public now 2021

All the news of MASRAF AL RAYAN (QPSC)
Sales 2021 4,719 million
1,296 million
1,296 million
Net income 2021 2,691 million
739 million
739 million
Net debt 2021

PER 2021 ratio 15.1x
Yield 2021 4.55%
Capitalization 34,875 million
9 580 million
9,581 million
Capi. / Sales 2021 7.39x
Capi. / Sales 2022 7.47x
Number of employees
Free float 74.8%

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Number of analysts 4
Last closing price

4.65 QAR

Average price target

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Spread / Average target 9.37%


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