Masraf Al Rayan reports a net profit of QAR 1.34bln for year ending December 31, 2022

Masraf Al Rayan reports a net profit of QAR 1.34bln for year ending December 31, 2022

- Net financing assets closed at QAR 118 billion

- Deposits closed at QAR 97 billion

- The Capital Adequacy ratio stood at 20.3%

Doha: Masraf Al Rayan Q.P.S.C today released its consolidated financial statements for the year ended 31 December 2022 with a Net Profit attributable to the equity holders of the bank of QAR 1.34 billion. The results issued are subject to Qatar Central Bank’s approval and endorsement by shareholders at the Bank’s Annual General Assembly.

Masraf al Rayan’s Chairman, His Excellency Sheikh Mohamed Bin Hamad Bin Qassim Al Thani stated:

“2022 was a turning point for Masraf Al Rayan subsequent to the merger. We successfully completed the operational integration which helps to drive agility across the business and improve our service offering to our valued clients. We have also launched Sustainable Finance Framework – Qatar’s first Shari’a compliant green deposit and Islamic sustainable financing framework. Moreover, we have also increased our Foreign Ownership Limit (FOL) to 100%, which will assist to boost the bank’s weight in major indices. Our year-end results are in line within our expectations; we remain focused on building a comprehensive strategy to deliver strong performance and meeting shareholders expectations. I am confident of our ability to remain at