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Dubai Lender Mashreq Q2 Net Profit Jumps 45%

Dubai Lender Mashreq Q2 Net Profit Jumps 45%

The lender made a net profit of Dhs585 million ($159.3 million) for the three months to June 30.

Mashreq, Dubai’s third-biggest lender by assets, on Wednesday posted a 45 per cent jump in second-quarter net profit.

The lender made a net profit of Dhs585 million ($159.3 million) for the three months to June 30, it said in a statement, an increase on the Dhs402.6 million recorded for the corresponding period of last year.

Arqaam Capital had expected the bank to make a profit in the quarter of Dhs532 million.

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