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Dubai Lender Mashreq Q3 Net Profit Rises 26%

Dubai Lender Mashreq Q3 Net Profit Rises 26%

The lender made a net profit of Dhs596.8 million ($162.5 million) in the third quarter of 2014, up from Dhs473.2 million from the same period last year.

Mashreq, Dubai’s third-biggest lender by assets, on Monday posted a 26.1 per cent rise in third-quarter net profit.

The lender made a net profit of Dhs596.8 million ($162.5 million) for the three months to September 30, it said in a statement, a increase on the Dhs473.2 million recorded for the corresponding period of last year.

Profit for the first nine months of 2014 reached Dhs1.76 billion, compared to Dhs1.3 billion in the same period of 2013.

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