• Net financing assets closed at QAR 118 billion
  • Deposits closed at QAR 97 billion
  • The Capital Adequacy ratio stood at 20.3%

Doha: Masraf Al Rayan Q.P.S.C today released its consolidated financial statements for the year ended 31 December 2022 with a Net Profit attributable to the equity holders of the bank of QAR 1.34 billion. The results issued are subject to Qatar Central Bank’s approval and endorsement by shareholders at the Bank’s Annual General Assembly.

Masraf al Rayan’s Chairman, His Excellency Sheikh Mohamed Bin Hamad Bin Qassim Al Thani stated:

“2022 was a turning point for Masraf Al Rayan subsequent to the merger. We successfully completed the operational integration which helps to drive agility across the business and improve our service offering to our valued clients. We have also launched Sustainable Finance Framework – Qatar’s first Shari’a compliant green deposit and Islamic sustainable financing framework. Moreover, we have also increased our Foreign Ownership Limit (FOL) to 100%, which will assist to boost the bank’s weight in major indices. Our year-end results are in line within our expectations; we remain focused on building a comprehensive strategy to deliver strong performance and meeting shareholders expectations. I am confident of our ability to remain at the forefront as a leading Islamic bank in the region.”    

Commenting on the year-end financial performance, Masraf al Rayan’s Group Chief Executive Officer, Mr. Fahad Al Khalifa, said:

“Net profit for the year was QAR 1.34 billion. Our Net Operation Income for 2022 was QAR 4.4 billion, which reflects steady revenues from our banking activities. We adopt a conservative approach to provisioning and many of our numbers indicate progression and resilience. Our liquidity is healthy and capital base robust, with capital adequacy ratio of 20.3%. Our immediate focus is on product and process enhancement to enrich the customer experience through greater investment in technology.”

Key Financial Highlights (QAR million)

Balance Sheet -As at  31 December

2022

2021

Change

Total Assets

168

174

-4%

Financing assets

118

121

-2%

Investments

32

33

-4%

Deposits

97

107

-9%

Total Equity

24

25

-2%

    
    

Income Statement – For  the year ended

2022

2021

Change

Net operating profit

4,355

3,629

20%

Operating expenses

1,282

801

60%

Net Impairment Charges

1,710

1,097

56%

Net profit attributable to shareholders

1,344

1,718

-22%

Earnings Per Share (QAR)

0.140

0.218

-36%

Rating

Moody’s A1 / Stable

    
    

Group ratios

2022

2021

 

Efficiency (%)

 

 

 

Cost to Income

29.4%

22.1%

 

Cost to Income (excl. merger one-off's)

26.4%

21.6%

 

Loan Quality

 

 

 

Non-Performing loans (QAR million)

7,295

1,922

 

NPL ratio (%)

5.99%

1.57%

 

Capital Management (%)

 

 

 

Capital adequacy ratio (CAR)

20.3%

21.2%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash Dividend

After reviewing the audited financials today, the Board was satisfied with the 2022 financial performance and has recommended (subject to QCB approval) to the Annual General Assembly the distribution of a cash dividend of 10% of the nominal share value, i.e. QAR 0.10 per share.

-Ends- 

For further information please visit our investor relations page on our website https://www.alrayan.com or contact our Investor Relations team at IR@alrayan.com