Mashreq’s first quarter net profit up 13.2 per cent to Dh651 million | GulfNews.com:
"Mashreq on Sunday reported Dh651 million net profit for the first quarter of 2015, up 13.2 per cent compared to the same quarter last year.
Total operating income for the quarter was up 8 per cent to Dh1.49 billion compared to Dh1.38 billion in the first quarter of 2014. Net interest income at Dh804 million was up by 17.2 per cent compared to a year earlier. On quarter on quarter basis, net interest income fell by 1.3 per cent as compared to Dh814 million in the fourth quarter of 2014.
“Our results reflect the continued stability of the UAE economy in the face of the disruption in the oil market. The banking industry and Mashreq in particular has displayed a remarkable immunity to the resultant economic turmoil in the region,” said Mashreq’s CEO, Abdul Aziz Al Ghurair."
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