Qatar's Masraf Al Rayan Q4 net profit down 3pc
DUBAI, January 18, 2016
Masraf Al Rayan, Qatar's second-largest bank by market value, reported a 3 per cent fall in fourth-quarter net profit on Monday, according to Reuters calculations.
Net profit for the three months to December 31 was QR559 million ($153.5 million), compared to QR576 million in the same period a year earlier, Reuters calculations showed, using financial statements in the absence of a quarterly earnings breakdown.
QNB Financial Services had forecast a quarterly net profit of QR553 million for the period.
Full-year net profit for 2015 was QR2.07 billion, up 3.6 per cent from the previous year, a statement from the bank said.
The bank said its board was recommending a dividend for 2015 of QR1.75 per share. This is the same as the QR1.75 per share the bank paid out in 2014, according to Thomson Reuters data. - Reuters