Masraf Heads for 2011 High as Profit Tops Estimates: Doha Mover - Bloomberg

Masraf Heads for 2011 High as Profit Tops Estimates: Doha Mover - Bloomberg:

"Masraf Al Rayan headed for the highest level since December 2011 after Qatar’s biggest Shariah-compliant bank by market value reported second-quarter profit that beat estimates.
The shares increased 1.3 percent, the most in a month, to 28.10 riyals at 12:08 p.m. in Doha. Volume climbed to 1.2 million shares, twice the stock’s three-month daily average. Masraf Al Rayan, which offers banking services that comply with Islam’s ban on interest, was the second-biggest gainer on the benchmark QE Index, which was little changed.
The Doha-based lender’s net income for the three months ended June 30 grew 13 percent to 421 million riyals, exceeding the 419 million-riyal average estimate of five analysts compiled by Bloomberg. Masraf Al Rayan’s profit has beat estimates in the last three quarters, data compiled by Bloomberg show."

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