UAE banking major Mashreq posted a net profit of AED2.6 billion in the first nine months of 2022.
The bank’s operating income in the period was up by 24.3 percent to AED5.3 billion over the same year-ago period, driven mainly by a spike in net interest income.
Mashreq said its non-interest income to operating income ratio remains one of the industry’s best at 42.2 percent.
The operating profit during the period was at AED3.2 billion, up by 33.2 percent compared to the same period of 2021.
The bank’s total loans and advances in the period increased by 12.1 percent to reach AED91.3 billion, with its loan-to-deposit ratio remaining stable at 83 percent.
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