Mashreq reports Dh85 million net profit for first half of 2021 | Banking – Gulf News
Mashreq, one of the leading financial institutions in the UAE, Wednesday reported Dh85 million net profit for the first half (H1) of 2021 compared to Dh535 million reported in the same period last year.
The bank’s operating income increased by 1.4 per cent over the previous year to Dh2.9 billion due to improvements in fees and commission.
Mashreq’s non-interest income to operating income ratio improved to 49.8 per cent compared to 47.1 per cent in the first half of 2020.
Operating profit at Dh1.6 billion is a 4.6 per cent increase compared to first half of 2020 as a result of increased operating income and reduced operating expense.
“Recording a net profit of Dh85 million during the first half of 2021, I believe we are fortunate to have been steered through the pandemic and its far-reaching impacts by a national leadership that has taken proactive measures to protect business interests, jobs and economic stability,” said AbdulAziz Al Ghurair, Chairman of Mashreq Bank.
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