Dubai – Mubasher: Mashreq Bank PSC posted a 18.28% decline in net profit for the first quarter of 2016 to AED 532 million ($144.84 million), from AED 651 million ($177.23 million) in the same quarter a year ago.
The lender’s Q1 operating income grew by 2.3% to AED 1.5 billion, while net interest income increased by 6.4%.
Moreover, the first quarter’s operating profit grew by 4.1% to AED 923 million.
Mashreq earlier posted a slight rise by 0.03% in FY15 net profit to AED 2.402 billion, compared with AED 2.401 billion in FY14.
