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Wednesday, 20 July 2016

Mashreq reports Dh1.1b first-half profit | GulfNews.com

Mashreq reports Dh1.1b first-half profit | GulfNews.com:

"Mashreq on Wednesday reported a first-half net profit of Dh1.1 billion, compared to Dh1.3 billion in the same period last year. Net profit for the first half stood stable compared to the normalised net profit for the first half of 2015 adjusted for the impact of recoveries, the bank said in a statement.

For the second quarter of the year the bank’s net profit was Dh539 million, up 1.4 per cent quarter-on-quarter. Adjusting for impact of recoveries in the second quarter of 2015, the bank said its normalised net profit increased by 3.5 per cent.

“Mashreq’s prudent fiscal policies and continued commitment to its focus on placing its customers at the forefront of all decisions has enabled the bank to return a stable performance for the first half 2016,” said Mashreq’s CEO, AbdulAziz Al Ghurair."



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