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