Mashreq, Dubai’s third-biggest lender by assets, on Wednesday posted an 11 percent rise in second-quarter net profit.
The lender made a net profit of 649 million dirhams ($176.6 million) for the three months to June 30, according to Reuters calculations, an increase on the 584.9 million dirhams recorded for the corresponding period of 2014.
Mashreq didn’t provide a quarterly breakdown in its first-half results filing, so Reuters calculated figures for the three months using previous financial statements.
For the first half of 2015, the bank reported a net profit of 1.3 billion dirhams, up 11.6 percent from a year earlier.
For the six-month period, Mashreq cited a 12.7 percent rise in net interest income and a 3.6 percent climb in fee and commission income for the profit rise.
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