• Net Interest Income continues its strong trajectory: The 23% rise in Net Interest Income stemmed from a significant expansion of the balance sheet and robust client margins. Furthermore, non-interest income saw a marked increase of 29% over the previous year.
  • Significant quarterly balance sheet growth: The ongoing organic growth momentum is evidenced by a 7% rise in loans and advances and a 6% increase in customer deposits year-to-date, continuing the trends established last year.
  • Enhanced Financial Standing and Improved Operational Efficiency: Capital Adequacy Ratio Climbs to 17.7% highlighting the Bank's Sustained Resilience in a Dynamic Environment; Moreover, a Return on Equity of 28.0% together with a Cost-Income Ratio of 26.7% demonstrates Mashreq’s Exceptional Financial Performance

Dubai, UAE: Mashreq Releases 1Q 2024 Financial Results: Paving the Way for Sustainable Growth.

Mashreq is pleased to disclose its financial results for the first quarter of 2024, demonstrating the bank's steadfast commitment to strategic priorities centered on client-centricity, operational and financial efficiency, robust risk management, and a people-first culture. These results emphasize the success of Mashreq's strategic initiatives.

Read the full report here.