October 16, 2017 / 12:22 PM / a month ago

Qatar's Masraf Al Rayan Q3 profit up 6.5 pct

DUBAI, Oct 16 (Reuters) - Qatar’s second-largest bank by market value, Masraf Al Rayan reported a 6.5 percent increase in third-quarter net profit on Monday.

Net profit for the three months to Sept. 30 was 542 million riyals ($148.9 million), Reuters calculated based on nine-month results provided by the company.

EFG Hermes had forecast a quarterly net profit of 502 million riyals while QNB Financial Services forecast a net profit of 508 million.

$1 = 3.6400 Qatar riyals Reporting by Tom Arnold; editing by Jason Neely

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