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DUBAI, July 18 (Reuters) - Masraf Al Rayan, Qatar's second-largest bank by market value, reported a 5.4 percent increase in second-quarter net profit on Monday, according to Reuters calculations, broadly in line with analysts' expectations.
Net profit for the three months to June 30 was 514 million riyals ($141.2 million) compared to 487.6 million riyals in the same period a year ago, Reuters calculations showed, using financial statements in lieu of a quarterly earnings breakdown.
Four analysts had on average forecast a quarterly net profit of 509 million riyals for the quarter.
Masraf Al Rayan posted net profit of 1.05 billion riyals in the first half of 2016, 5.3 percent higher than the 998 million riyals it reported a year ago, according to its statement to the bourse.
The bank was expecting to post annual profit growth of between 8 and 10 percent in 2016, chairman Hussain Ali al-Abdulla said in February.
($1 = 3.6414 Qatar riyals)
(Reporting By Tom Arnold; Editing by David French) ((Tom.Arnold@thomsonreuters.com; +97144536265; Reuters Messaging: tom.arnold.thomsonreuters.com@reuters.net))
Net profit for the three months to June 30 was 514 million riyals ($141.2 million) compared to 487.6 million riyals in the same period a year ago, Reuters calculations showed, using financial statements in lieu of a quarterly earnings breakdown.
Four analysts had on average forecast a quarterly net profit of 509 million riyals for the quarter.
Masraf Al Rayan posted net profit of 1.05 billion riyals in the first half of 2016, 5.3 percent higher than the 998 million riyals it reported a year ago, according to its statement to the bourse.
The bank was expecting to post annual profit growth of between 8 and 10 percent in 2016, chairman Hussain Ali al-Abdulla said in February.
($1 = 3.6414 Qatar riyals)
(Reporting By Tom Arnold; Editing by David French) ((Tom.Arnold@thomsonreuters.com; +97144536265; Reuters Messaging: tom.arnold.thomsonreuters.com@reuters.net))
