Qatar-based lender Masraf Al Rayan has made a H1-2022 net of 1.03 billion Qatari riyals ($357 million), 10% lower compared with QAR 1.14 billion in the year-earlier period.

The earnings per share (EPS) amounted to QAR 0.110 versus an EPS of QAR 0.152 for the same period in 2021.

Net operating profit was 21% higher y-o-y at QAR2.2 billion, the lender said in a statement on the Qatari stock exchange.

Impairment charges jumped 83% to QAR 661 million. Non-performing loans grew to QAR2.86 billion from QAR985 million in the year-ago period.

Deposits rose 28% to QAR97 billion in H1 period.

(Reporting by Brinda Darasha; editing by Seban Scaria )