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FINANCIAL NEWS
Mashreq net profit reaches USD315.8m in H1
11 Sep 2014
(MENAFN) Mashreq announced a net profit increase of 40 percent for the January-June period, reaching USD315.8 million, compared with USD225.37 million in the same period last year, Gulf Daily News reported.
The UAE-based bank reached USD159.23 million in its net profit in the April-June period, with an increase of 45 percent compared to last year.
The bank’s total operating income for the year’s first half grew to USD789.37 million, an increase of 26.4 percent compared with a year earlier. This growth was mainly attributed to both net interest income and net fee and commission income.
“Our first half results underscore the fact that the bank is steaming ahead to a record year in a sustained manner, recording both top and bottom line growth because of equally strong performances from the corporate, retail and international divisions,” Mashreq Chief Executive said.
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