#Mashreq reports full year net profit of Dh2.1b

Mashreq reports full year net profit of Dh2.1b:

Mashreq on Monday reported a full year net profit of Dh2.1 billion for 2018 posting a marginal increase of 0.4 per cent year on year.

For the fourth quarter of the year the bank reported Dh312 million net profits, down 19 per cent year on year.

For the full year, Mashreq posted significant decline in impairment allowance with total impairment charges declining by 17.3 per cent year on year. The results also marked a high proportion of non-interest income that accounted for 38.7 per cent of total income.