QNB ascribed the growth of Masraf Al Rayan’s profits for the first quarter of 2018 to the fall of provisions after registering QAR 16.5 million for the period ended 31 March 2018 instead of QAR 115.8 million in Q4-17, according to a recent report.
Financial indicators of Masraf Al Rayan showed a 4.1% increase in profits during Q1-18.
Profits of Qatar's second-largest bank by market value amounted to QAR 531 million in Q1-18, compared to QAR 510 million in Q1-17, according to the report.
The bank’s net operating income jumped 7.7%, the report showed.
Masraf Al Rayan’s deposits went up to QAR 62.7 billion, compared to QAR 62.5 billion by the end of 2017.