Doha – Mubasher: Qatar’s Masraf Al Rayan posted on Tuesday a net profit of QAR 537 million ($147.6 million) in the first quarter of fiscal 2016, rising 8.08% from QAR 511 million ($140.48 million) in Q1-15.
Earnings per share reached QAR 0.716 ($0.20) in the first three months of 2016, compared to QAR 0.681 ($0.19) in the same period of 2015.
The bank’s earlier reported a rise of 3.5% to QAR 2.073 billion ($568.8 million) in its profit during 2015, versus QAR 2.002 billion ($549.3 billion) in 2014.
Shareholders of Masraf Al Rayan approved cash dividends at 17.5% or QAR 1.75 ($0.48) for fiscal 2015.
The Qatar-listed bank’s stock stood in today’s trading at QAR 34.59 ($9.50).
