Dubai – Mubasher: Mashreq Bank witnessed 122% year-on-year (YoY) higher net profits attributable to the owners at AED 5.76 billion during the first nine months (9M) of 2023, versus AED 2.59 billion.
Operating income climbed by 52% to AED 7.90 billion as of 30 September 2023 from AED 5.20 billion in 9M-22, according to the unaudited financial statements.
The basic and diluted earnings per share (EPS) went up to AED 28.75 in January-September 2023 from AED 12.95 a year earlier.
Total assets jumped by 16.40% YoY to AED 218.34 billion in 9M-23 from AED 187.58 billion, while the customer deposits widened by 21.40% YoY to AED 132.86 billion from AED 109.43 billion.
Financial Statements for Q3-23
In the third quarter (Q3) of 2023, the net profits attributable to the shareholders enlarged by 89.30% to AED 2.25 billion from AED 1.18 billion during the July-September 2022 period.
The total operating income surged by 38.70% to AED 2.78 billion in Q3-23 from AED 2 billion in Q3-22, while the basic and diluted EPS grew to AED 11.23 from AED 5.93.
Quarter-on-quarter (QoQ), the profits in Q3-23 increased by 18.10% from the AED 1.90 billion generated in April-June 2023, while the operating income rose by 6.70% from AED 2.60 billion.
Ahmed Abdelaal, Group CEO of Mashreq Bank, commented: “Internationally, we continued to see the benefits of our diversified business model and strong balance sheet growth, and our digital strides in Pakistan and licensing in Oman usher in a new era of exciting global growth.”
“Our digital transformation continues to gain momentum with strategic partnerships with the likes of Alipay through NeoPay, enhancing our position in the digital banking revolution,” Abdelaal continued.
