Dubai: Mashreqbank Group on Saturday reported a net profit of Dh1.64 billion, down by 13.6 per cent compared to 2007.
The total Assets of the Bank rose by 6.4 per cent compared to 2007, reaching Dh93 billion. Net Customer Advances, including Islamic financing grew by 55.8 per cent to reach Dh 55 Billion.
Mashreq’s loan portfolio quality, despite the pace of growth, continues to remain exceptionally strong, the bank said in a statement. The Non-performing loans (NPLs) marginally declined to Dh364 million and NPL to Gross Loans ratio further improved to 0.6 per cent in 2008 compared to 1 per cent in 2007.
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