Mashreqbank's CEO to become chairman, Q3 net profit falls - Reuters:
Dubai’s Mashreqbank said on Monday its long-standing chief executive would become chairman, with the head of its corporate and investment bank taking over as CEO.
The bank also said its third-quarter net profit dropped 8.7% to 535.75 million dirhams ($145.87 million), as net interest income fell 4.2%, mainly due to lower interest rates.
FAB Securities had forecast a net profit of 595 million dirhams.
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