April 24, 2017 / 1:25 PM / 7 months ago

Qatar's Masraf Al Rayan Q1 net profit falls 6.5 pct

DUBAI, April 24 (Reuters) - Masraf Al Rayan, Qatar’s second largest bank by market value, reported a 6.5 percent fall in first-quarter net profit on Monday.

Net profit for the three months to March 31 was 510 million riyals ($136 million), down from 546 million a year ago, a company statement said.

EFG Hermes had forecast a net profit of 503.47 million riyals for the quarter while QNB Financial Services had expected 512.76 million riyals. ($1 = 3.7502 riyals) (Reporting by Tom Arnold; editing by David Clarke)

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