Masraf Al Rayan Q P S C : REPORTS A NET PROFIT OF QAR 1,718 MILLION

• Total Income exceeded QAR 5,106 million;
• Net profit reached QAR 1,718 million;
• Financing assets reached QAR 121 billion, an increase of 40.2% from 2020;
• Deposits closed at QAR 107 billion, an increase of 55.2% compared to 2020;
• Total Assets increased by 43.7% to QAR 174 billion;
• Shareholders Equity strengthened by 63.4% to QAR 23.5 billion;
• The Capital Adequacy ratio at year-end stood at a healthy 20.95%;
• Board recommends a cash dividend of QAR 0.17 dirhams per share

Doha, 27 January 2022:
Masraf Al Rayan (Q.P.S.C) ("the Bank") issued its consolidated financial statements for the year ended 31 December 2021 today reporting a Net Profit of QAR 1,718 million. The Board of Directors of the Bank approved these consolidated financial statements in their meeting held in Doha on 27 January 2022. The results issued are subject to Qatar Central Bank's approval and endorsement by shareholders at the Bank's Annual General Assembly.

His Excellency Sheikh Mohammed Bin Hamad Bin Qassim Al Thani, Chairman of the Board stated:

"2021 was a momentous year for Masraf Al Rayan. We announced our merger with Al Khalij Commercial Bank P.Q.S.C in January 2021 and completed it in December, creating one of the leading Shari'a-compliant lenders in the region with a robust capital position and strong liquidity.

The year continued with the challenges of the COVID-19 pandemic. Businesses and individuals required skillful navigation through these volatile times. Masraf Al Rayan as an Islamic Bank holding a significant market share ensured its customers were well-supported to navigate through these challenging times.

Masraf Al Rayan as a larger entity, with a strong management team and diversified business model is well positioned to contribute to Qatar's growth and realization of Qatar's Vision 2030 milestones.

On behalf of the Board, I would like to express appreciation to the Qatar Central Bank, the Qatar Financial Markets Authority, the Ministry of Finance, the Ministry of Commerce & Industry and all other stakeholders for their continued support during 2021, and also extend our gratitude to shareholders, our valued customers, and the MAR executive team and employees for their continued dedication and commitment"

Commenting on the year's performance, Fahad Bin Abdulla Al Khalifa, Masraf Al Rayan's Group Chief Executive Officer said:

"Despite the many challenges presented by the COVID-19 pandemic the Masraf team performed exceptionally to support our valued clients and deliver a solid financial performance. Our customers are at the heart of everything we do and we realize the importance of ensuring meaningful support during difficult times, as long-term relationships are to the benefit of all parties.

I am excited for the future of the Bank following its merger with al khaliji in late 2021. While our immediate focus is on the operational integration of both banks into one seamless platform, our medium-term plans are ambitious. The transformation journey will focus on enhancing our customer experience through service excellence, speed and technology. These measures will strengthen the links between our local and international footprint in the UAE, France and the UK to better serve our client's overseas banking requirements.

Environmental and social responsibility is very important to the bank and we recognize our obligations to make a positive impact on the local community. We will support, develop and promote local talent to continue the future success of the bank and their valued contribution to broader society. The bank will also prioritize sustainable green financing in line with our commitment to the global community.

As a leading Islamic financial institution Masraf Al Rayan enjoys strong relationships with Government and Government Related Entities (GRE's), for which we are most grateful. Our larger merged bank aims to support the build-out and development of the country in line with the ambitions of QNV 2030."

Key Financial highlights:

Balance Sheet - QAR million	FY 2021	FY 2020
Total Assets	174,039	121,115
Financing assets	120,553	85,983
Customer deposits	106,956	68,918
Total Bank's Equity	23,472	14,365
Non-Performing Financing (%)	1.67%	1.13%
NPF Coverage Ratio (%)	50%	56%
Capital Adequacy Ratio (%)	20.95%	20.31%