Dubai, UAE: Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the nine months ending 30th September 2019.

Key highlights [9M 2019 vs 9M 2018]: 

  • Stable Net Profit
    • Net profit for 9M 2019 stood at AED 1.76 billion - a 0.5% increase YoY
    • Impairment Allowance down by 15.9% YoY
  • High proportion of non-interest income
    • Mashreq’s best-in-class non-interest income to operating income ratio remained high at 39.3%
    • Significant growth in Investment Income
  • Strong liquidity & Capital position
    • Liquid Assets ratio stood at 32.6% with Cash and Due from Banks at AED 43.6 billion as on 30th September 2019
    • Capital adequacy ratio and Tier 1 capital ratio continue to be significantly higher than the regulatory limit and stood at 16.8% and 15.6% respectively
  • Solid Balance Sheet Growth
    • Total Assets grew by 5.0% to AED 146.9 billion while Loans and Advances increased by 4.2% to reach AED 72.2 billion as compared to December 2018
    • Customer Deposits grew by 1.1% during the year to reach AED 84.1 billion
    • Loan-to-Deposit ratio remained strong at 85.8% at the end of 30th September 2019
  • Sustained Asset Quality
    • Non-Performing Loans to Gross Loans ratio decreased slightly from 3.5% in June to 3.4% at the end of September 2019
    • Total Provisions for Loans and advances reached AED 4.1 billion, constituting 130.9% coverage for Non-Performing Loans

Read the full report here.

-Ends-

For media enquiries, please contact:
Rana AlBorno                                                   
Public Relations, Mashreq                              
Tel: 04 –6083629                                          
Email: RanaAlB@mashreq.com                        

For investor relations enquiries, please contact:
Ali Zaigham Agha                                          
Investor Relations, Mashreq                          
Tel: 04 –2077543                                          
Email: AliAgha@mashreq.com 

© Press Release 2019

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