Sunday 14 July 2013

Dubai Mashreq's retail banking profit to double in 2013 -newspaper | Reuters

"Mashreq, Dubai's third largest listed bank by assets, expects profit from its retail banking unit to double in 2013 from a year earlier, a top executive said in a newspaper interview on Sunday.

The bank made a net profit of 1.31 billion dirhams ($356.7 million) in 2013, according to Reuters data.

"We are very small, as the total net profit we made was 240 million dirhams in 2012. This year, we will double our profit," Farhad Irani, Mashreq's head of retail banking, told Dubai-based Khaleej Times."

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