Masraf Al Rayan : officially, opens Premiere Banking Branch at Al Hazm...

According to Emadi, the new premiere banking branch will target high net worth individuals (HNWIs) and will be offering special services to them.'The branch is for all individuals drawing a monthly salary of more than QR50,000 per month or have a deposit for QR1 million,' Emadi said.

Emadi further said the bank would be having relationship managers to assist every client in managing their accounts and investments. A new signature credit card will also be offered to customers that will enable them to access VIP lounges in 750 airports across the world.

'Another feature of the credit card is that for every QR6 spent, customers will get one Masraf point which can be redeemed with Qatar Airways or Oreedoo's Nojoom points. Likewise, the credit card offers special discounts with some leading merchants,' Emadi said.

Currently, Masraf Al Rayan operates 15 branches in Qatar, including this new branch, supported by a network of more than 70 ATMs. Like other branches of the bank, the new branch is operated by highly qualified staff, supported by several innovative technologies.

As one of the most profitable banks, in the nine months ended 30 September 2017, Masraf al Rayan reported a net profit of QR1,562 million, with assets growing by 13.4 percent to reach QR98,613 million.

The quality of the bank assets (both financing assets and investments) continues to be one of the best in the region and globally, maintaining a non-performing financing ratio (NPL) of 0.15 percent, which has been maintained consistently within this level for the past many years. Masraf Al Rayan continues to lead the banking sector with one of the best operational efficiency ratio of 21.9 percent compared to its peers in the market.

On the profitability indicators, Masraf Al Rayan again continued to maintain its leading position with return on average assets at 2.19 percent and return on average equity at 16.35 percent, despite depositors 'share of profits increasing by 33.6 percent due to higher cost profits on deposits at local and international levels.