Sunday 22 July 2012

Dubai's Mashreq H1 net profit rises 7.1 pct | Reuters

Mashreq, Dubai's second-biggest lender by market value, posted a net profit of 591 million dirhams ($160.9 million) for the first six months of the year, the bank said in a statement on Sunday.

This was a 7.1 percent rise compared with a profit of 551.6 million dirhams for the corresponding period of 2011, according to a Reuters calculation.

Its second-quarter net profit was 320 million dirhams, compared to 286.3 million dirhams in the same three months of last year, according to Reuters calculations, based on previous statements from Mashreq.

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