Mashreq Posts A 12.0% Y-O-Y Growth In Net Profit For The First Nine Months Of 2017

Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the first nine months ending 30th September 2017.

Key highlights [9M 2017 vs 9M 2016]:

Healthy growth in Net Profit

Net profit for 9M 2017 stood at AED 1.7 billion – a 12.0% increase YoY
Impairment Allowance down by 30.0% YoY; Operating expenses lower by almost 2% on the back of effective cost management

Consistently high proportion of non-interest income

Mashreq’s best-in-class non-interest income to operating income ratio remained high at 39.8%
Investment income up by 73.8% YoY