#Dubai-listed Mashreq Bank reports Q2 net profit of $519mln

Dubai-listed Mashreq Bank reports Q2 net profit of $519mln

Dubai-listed Mashreq Bank has announced Q2 2023 net profit of 1.906 billion dirhams ($519 million), up from AED 796 million last year on higher net interest income and income from Islamic financing.

Total operating income reaching AED 2.607 billion, up from 1.695 billion, the lender said in a statement to Dubai Financial Market on Wednesday.

Net interest income and income from Islamic financing was AED 1.87 billion, up 84% versus the year-ago period.

The bank reported a profit of AED 3.516 billion for H1 2023, up 150% from H1 2022, with operating income reaching AED 5.127 billion, up from AED 3.198 billion last year.