Dubai – Mubasher: Mashreq Bank, achieved a net profit of AED 1.66 billion during the first 9 months of 2017, recording a 12% year-on-year increase.
The bank’s net profit in the third quarter of 2017 rose by 0.6% to AED 561 million, from AED 557 million in Q2-17.
Operating expenses for the first nine months decreased by 1.7% YoY to reach AED 1.8 billion, and investment income increased by 73.8%.
Total operating income for the first nine months of 2017 was AED 4.4 billion, down by 4.9% compared to AED 4.7 billion in the year-ago period, due to an 11.3% fall in non-interest income.
Moreover, the bank said that its total customer deposits decreased marginally by 1.2% to AED 76.1 billion, due to a decline in both Islamic and conventional deposits, with loan-to-deposit ratio stood at 85.0% in September 2017 versus 79.2% in December 2016.
The Dubai-based bank's capital adequacy ratio stood at 18% (regulatory minimum of 12%) as of 30 September 2017, compared to 16.9% as of 31 December 2016.
