DUBAI: Mashreq Bank recorded a net profit after tax of AED1.927 billion during the first quarter of 2026, compared to AED1.792 billion in the same period of 2025, reflecting a growth of 8 percent year-on-year, while net profit before tax reached AED2.28 billion, marking a 9 percent increase year-on-year.

According to a statement issued today, the bank recorded revenues of AED3.426 billion during the first quarter of the current year, compared to AED3.12 billion in the corresponding period last year, representing a growth of 10 percent.

Total assets reached AED344.305 billion by the end of March 2026, compared to AED272.703 billion in the same period of 2025, reflecting a growth of 26 percent. Customer loans rose to AED167.697 billion, up 33 percent, while customer deposits reached AED210.171 billion, an increase of 23 percent year-on-year.

Net interest income and income from Islamic financing rose by 4 percent to AED2.038 billion during the first quarter of 2026, while non-interest income increased by 20 percent to AED1.388 billion, accounting for 41 percent of total revenues.

The capital adequacy ratio reached 15.8 percent by the end of March 2026, while the Tier 1 capital ratio stood at 14.5 percent, both exceeding regulatory requirements.

Abdulaziz Al Ghurair, Chairman of Mashreq, said that the first quarter of 2026 witnessed an escalation in the geopolitical landscape at the regional level, while at the same time highlighting the resilience of the structural foundations of the UAE economy and the economies of the Gulf Cooperation Council countries, as well as the strength of their financial systems, which continue to provide stability and enhance confidence even during periods of uncertainty.

He added that prudent fiscal policies, alongside the strong economic position of the UAE and the continued growth of non-oil sectors, have strengthened the banking sector’s ability to operate from a position of strength, supported by abundant liquidity, capital, and operational continuity, thereby reinforcing its role as a reliable driver of economic activity across various economic cycles.

Ahmed Abdelaal, Group Chief Executive Officer of Mashreq, said that the first quarter of 2026 was characterised by a changing operating environment, and that the bank focused on enhancing transparency and clarity while ensuring business continuity for customers across the region.

He explained that Mashreq succeeded, despite challenges, in achieving a net profit before tax of AED2.3 billion, while non-interest income contributed 41 percent of total revenues, reflecting the increasing strength and diversification of the business model and its reliance on customer activity.