Mashreq has posted a first-half (H1) net profit of AED4 billion ($1.09 billion), a significant 14% increase year-on-year (YoY), driven largely by a 17% YoY increase in net interest income.

The bank’s non-interest income rose to AED1.9 billion, demonstrating a very strong 26% growth YoY. The net profit before tax grew by 24% YoY and stands at an impressive AED4.5 billion.

Meanwhile, Mashreq operating profit rose from AED3.7 billion to AED4.5 billion in H1 2024, a 21% increase compared to the same period in 2023.