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Qatar’s Masraf Al Rayan meets estimates with 1.3% Q3 profit dip

Net profit for the three months to Sept. 30 was 509 million riyals ($139.8 million) compared to 515.6 million riyals in the same period a year ago

Gulf News

Dubai: Masraf Al Rayan, Qatar’s second-largest bank by market value, reported a 1.3 per cent fall in third-quarter net profit on Monday, according to Reuters calculations, broadly meeting analysts’ expectations. Net profit for the three months to Sept. 30 was 509 million riyals ($139.8 million) compared to 515.6 million riyals in the same period a year ago, Reuters calculations showed, using financial statements in lieu of a quarterly earnings breakdown. The Sharia-compliant bank posted net profit of 1.56 billion riyals in the first nine months of the year, higher than the 1.51 billion riyals it reported a year ago, according to a statement to the bourse.

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