Wednesday 24 October 2012

UPDATE 1-Dubai's Mashreq bank Q3 profit jumps 86 pct - Yahoo! News Maktoob

Mashreq, Dubai's second-biggest bank by stock market value, on Wednesday posted an 86 percent
year-on-year jump in net profit for the third quarter of this year, citing a decline in bad loan provisions.
Net profit climbed to 379 million dirhams ($103 million) in the quarter from 204 million dirhams a year earlier, according to Reuters calculations based on the bank's nine-month earnings statement.
For the first nine months of the year, profit rose 28 percent to 970 million dirhams, Mashreq said.

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