Browse
related articles
Masraf Al Rayan announced Net Profit of QAR 122,818,941 for year ending 31st December 2006.
Dr. Hussain Al-Abdulla, Chairman of the Board & Managing Director said: "We must take into consideration that MAR has only been operational since October 2006, and we had set up costs and consultancy fees to account for, therefore generating this profit in just over two months is an achievement for a bank in start up phase"
"This year will see a significant growth of branches within Qatar starting with the launch of our main branch and head office on Grand Hamad Street around the beginning of June, as well as expansion into other GCC states, and on to other regions within Asia. We are also delighted to announce that the initial feasibility study for Smart Industrial City has now been completed and we are progressing into the next phase."
Dr. Al-Abdulla also announced that an initial agreement had been struck with Qatari Diar where MAR would be getting involved in a number of infrastructure projects.
Finally, in reference to the outcome of the meeting Dr.Al-Abdulla added "We are extremely optimistic about the future of Masraf Al Rayan and look forward to a successful year ahead."
Digg
Facebook
LinkedIn
Twitter
Posted by Anne-Birte Stensgaard, Senior News Editor
It looks like you are using a Mac - check out our 
Web Feeds