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Wednesday, 12 April 2017

UAE's Mashreq Q1 net profit up 2.7 pct | Reuters

UAE's Mashreq Q1 net profit up 2.7 pct | Reuters:

"Mashreq, Dubai's third-biggest lender by assets, on Wednesday reported a 2.7 percent rise in first-quarter net profit as bad loans eased.

Net profit rose to 546 million dirhams ($148.7 million) in the three months to March 31, it said in a statement, up from 532 million.

Mashreq said the rise was primarily due to a 15 percent drop in impairment charges."



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