Dubai – Mubasher: Mashreq Bank reported a 2.4% year-on-year increase in its profits during the second quarter of 2017, according to a statement.
Profits reached AED 566.27 million ($154.13 million) in Q2-17, compared to AED 533.17 million in Q2-16.
Provisions for bad and non-performing loans fell 28% to AED 340.71 million in Q2-17, compared to AED 472.29 million in Q2-16.
Operating profits declined 6.5% year-on-year to AED 1.53 billion in Q2-17, while fee and commission income fell by AED 43 million to AED 741.5 million in Q2-17 as compared to figures recorded in the same period of last year.
The banks generated profits of AED 1.12 billion in the first half of 2017, a growth of 2.65% year-on-year.
