October 20, 2014 / 11:53 AM / 3 years ago

Qatar's Masraf Al Rayan posts 16.6 pct rise in 9-month net profit

Oct 20 (Reuters) - Masraf Al Rayan, Qatar’s largest Islamic lender by market value, reported on Monday a 16.6 percent increase in net profit for the first nine months of the year.

Net profit for the year-to-September 30 was 1.4 billion riyals ($384.5 million) compared to 1.2 billion riyals in the same period a year ago, a bourse filing said.

The bank did not provide a breakdown of third-quarter earnings. Analysts polled by Reuters on average had forecast a net profit of 529.4 million riyals for the three-month period.

It had recorded in July a six-month net profit of 904 million riyals, up from 821 million riyals in the previous year. (1 US dollar = 3.6413 Qatar riyal) (Reporting by Tom Arnold; Editing by David French)

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