Quarterly profit at Dubai bank Mashreq (MASB.DU) swung to a profit in the latest quarter on higher interest income and lower loan losses as it recovers from the burst of Dubai's asset and real estate bubble.
Mashreq made a profit of 155.6 million dirhams ($42.4 million) in the three months to Dec. 31, Reuters calculated, compared with a net loss of 119 million dirhams a year earlier.
It reported a full year net profit of 803 million dirhams in an emailed statement.
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