Dubai lender Mashreq's Q4 net profit jumps 48%

Emirate's third-biggest lender also reported full year net profit rose 32% to $492m
Dubai lender Mashreq's Q4 net profit jumps 48%
Mashreq Bank
By Reuters
Mon 27 Jan 2014 09:39 AM

Mashreq, Dubai's third-biggest lender by assets, on Monday posted a 48 percent rise in fourth-quarter net profit, Reuters calculations showed.

The bank earned AED504.6m ($137.38m) in the quarter, compared with AED342m in the year-ago quarter. Brokerage Arqaam Capital expected it to post a profit of AED525m for the quarter.

The bank said in a bourse statement its net profit for the full year rose to AED1.81bn ($492m) from AED1.37bn in 2012. Reuters calculated the quarterly results from the bank's previous financial statements.

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