Qatar’s Masraf Al Rayan Q1 Profit Rises 18.%, Beats Estimates

Masraf Al Rayan, Qatar’s second-largest bank by market value, reported an 18.1 per cent increase in first-quarter net profit on Monday, beating analysts’ expectations.

Net profit for the three months to March 31 was QAR511 million ($140.4 million) compared to QAR432 million in the same period a year ago, a company statement said.

Three analysts polled by Reuters, on average, had forecast a net profit of QAR484.4 million for the period.