Jul 21 2022

  • Total Income reached QAR 3.27 billion, up 29% compared to H1, 2021;
  • Net financing assets closed at QAR 119 billion, growing 30% year on year;
  • Deposits closed at QAR 97 billion, an increase of 28% year on year;
  • The Capital Adequacy ratio stood at 20%

Doha, July 21, 2022:
Masraf Al Rayan Q.P.S.C today released its consolidated financial statements for the half year ended 30 June 2022 with a Net Profit attributable to the equity holders of the bank of QAR 1.03 billion.

His Excellency Sheikh Mohammed Bin Hamad Bin Qassim Al Thani, Chairman of the Board stated:

“Masraf Al Rayan’s results announced today are in the backdrop of a successful completion of the key integration activities relating to its merger with al khaliji. We continue to focus on building a strong and diversified business that delivers long term value for shareholders and other stakeholders.”

Commenting on H1 2022 performance, Fahad Bin Abdulla Al Khalifa, Group Chief Executive Officer said:

“We are pleased to announce results for the first six months of 2022, during which time the team and I put concerted effort in completing the integration journey of the two banks. This was achieved in a short period of six months since completing the legal merger on December 1, 2021. We are grateful to our customers, regulators, staff and all other stakeholders that contributed in this journey. ”

During this period, we are very proud to have launched the country’s first Sharia Compliant Green Deposit and Islamic Sustainable Financing Framework. Our goal remains to be the bank of choice for our current and potential future customers, delivering innovative Islamic products and services.”

Key Financial highlights:
Balance Sheet -QAR billion H1 2022 H1 2021 Change
Total Assets 169 125 35%
Financing assets 119 91 30%
Investments securities 31 20 55%
Deposits 97 76 28%
Total Equity 24 14 66%

Income Statement - QAR million H1 2022 H1 2021 Change
Net operating profit 2,262 1,866 21%
Operating expenses 554 356 56%
Net Impairment Charges 661 361 83%
Net profit attributable to shareholders 1,062 1,143 -10%
Earnings Per Share (QAR) 0.11 0.15 -28%
Rating Moody’s A1 / Stable

Group ratios H1 2022 H1 2021
Efficiency (%)
Cost to Income 25.0% 19.1%
Cost to Income (excl. merger one-off's) 20.4% 19.1%
Loan Quality
Non-Performing loans (QAR million) 2,861 985
NPL ratio (%) 2.36% 1.07%
Capital Management (%)
Capital adequacy ratio (CAR) 20.0% 20.29%