Mar 31 2022

  • Total Income reached QAR 1.55 billion, up 22% compared to Q1, 2021;
  • Net financing assets closed at QAR 122 billion, growth of 34% year on year
  • Deposits closed at QAR 101 billion, an increase of 31% year on year
  • The Capital Adequacy ratio stood at a healthy 20.7%

Doha, April 27, 2022:
Masraf Al Rayan Q.P.S.C today released its consolidated financial statements for the quarter ended 31 March 2022 with a Net Profit attributable to the equityholders of the bank of QAR 506 million.

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

“Masraf Al Rayan’s results for the first quarter of 2022 embody the resilience of our business. With a post-merger larger balance sheet and increased client base, the bank is firmly on course to enhance its participation in the Qatari economy”

Commenting on the quarter’s performance, Fahad bin Abdulla Al Khalifa, Group Chief Executive Officer said:

“We ended the first quarter of 2022 on a firm footing. During Q1 our emphasis was on harmonizing both teams of employees and ensuring we continue to provide excellent service to our valued clients. A key strategic objective of the bank is to be a leader in innovative Islamic products and services. We are very proud to have launched the country’s first Sharia Compliant Green Deposit and Islamic Sustainable Financing Framework. As we look forward, the bank will capture market share and become an Islamic financial powerhouse which will support the prosperity of our clients, development of the nation and enhance the bank's social progress”

Key Financial highlights:
Balance Sheet - QAR million Q1 2022 Q1 2021 Change
Total Assets 170,805 125,502 36%
Net Loans & Advances 122,192 91,297 34%
Deposits 101,124 31%
Total Equity 25,191 13,904 81%

Income Statement - QAR million Q1 2022 Q1 2021 Change
Total income 1,557 1,277 22%
Operating Expenses 273 170 60%
Net Impairment Charges 287 165 74%
Net Profit 506 575 -12%
Earnings Per Share (QAR) 0.05 0.08 41%
Rating Moody’s A1 / Stable

Group ratios Q1 2022 Q1 2021
Efficiency (%)
Cost to Income 25.8% 18.6%
Cost to Income (excl. merger one-off's) 22.13% 18.9%
Loan Quality
Non-Performing loans (QAR million) 2,807 966
NPL ratio (%) 2.25% 1.05%
Capital Management (%)
Capital adequacy ratio (CAR) 20.7% 19.9%