Sunday 29 January 2012

Qatar lender Masraf Al Rayan 2011 profit up 16 pct | Reuters

Masraf Al Rayan, Qatar's fourth-largest bank by market value, posted a 16.3 percent increase in full-year net profit, it said in a statement on Sunday.

The sharia-compliant bank made a net profit of 1.41 billion riyals ($384.45 million) in 2011, compared with 1.21 billion in the previous year.

Earnings profit for the fourth quarter was 396 million riyals, according to Reuters calculations, a 37 percent jump from the 289 million riyals it made in same period a year earlier.

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