Mashreq Q3 profits up 35% on lower impairments - The National

Mashreq Q3 profits up 35% on lower impairments  - The National:

"Mashreq, the Dubai-based lender, said third-quarter profit rose 35 per cent, boosted by gains in net interest income, fees and commissions and a drop in money set aside to cover bad debt. The bank's profits for the three months to the end of September increased to Dh561 million from Dh415m in the corresponding period last year, the bank said on Tuesday, as impairment allowances decreased 44 per cent to Dh265m. Net interest income and income from Islamic financing advanced 3.9 per cent to Dh910m compared with Dh876m in the same quarter last year, while fees and commissions grew 3.8 per cent to Dh414m compared with Dh399m over the same period."



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