Dubai, UAE: Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the year ending 31st December 2019.

Key highlights [YE 2019 vs YE 2018]: 

  • Stable Net Profit
    • Net profit for YE 2019 stood at AED 2.1 billion – stable vs 2018
    • Impairment Allowance down by 1.5% YoY
  • High proportion of non-interest income
    • Mashreq’s best-in-class non-interest income to operating income ratio remained high at 38.2%
    • Significant growth in Investment Income (AED 150 Mn in 2019 vs AED 27 Mn in 2019)
  • Solid liquidity & Capital position
    • Liquid Assets ratio stood at 32.6% with Cash and Due from Banks at AED 5 billion as on 31st December 2019
    • Capital adequacy ratio and Tier 1 capital ratio continue to be significantly higher than the regulatory limit and stood at 16.3% and 15.1% respectively
  • Strong Balance Sheet Growth
    • Total Assets grew by 11.8% to AED 159.4 billion while Loans and Advances increased by 10.0% to reach AED 76.2 billion as compared to December 2018
    • Customer Deposits grew by 9.3% during the year to reach AED 91.0 billion
    • Loan-to-Deposit ratio remained strong at 83.7% at the end of 31st December 2019
  • Sustained Asset Quality
    • Non-Performing Loans to Gross Loans ratio stood at 3.6% at the end of December 2019
    • Total Provisions for Loans and advances reached AED 4.0 billion, constituting 116.8% coverage for Non-Performing Loans

Read the full report here.

-Ends-

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