Mashreq’s profit before tax rose 18% to a record AED7.3 billion in the first nine months of 2026, the Dubai lender said on Thursday.
Net profit after tax rose 18% to AED6.1 billion, and profit attributable to owners of the parent climbed 18% to AED6.0 billion. Operating income rose 11% to AED10.4 billion, according to the bank’s results statement.
Customer loans grew 33% from a year earlier to AED190.6 billion. Customer deposits rose 27% to AED237.1 billion, and total assets reached AED405.6 billion.
Return on equity was 20.4%, up from 19.8% a year earlier. Earnings per share rose 17% to AED28.8.
Third quarter
Third-quarter profit before tax rose 19% from a year earlier to AED2.45 billion. Net profit after tax increased 21% to AED2.07 billion, and quarterly operating income rose 12% to AED3.58 billion.
Profit before tax was 3% lower than in the second quarter, when it reached AED2.53 billion.
Credit quality and margins
The bank recorded a net impairment release of AED116 million in the nine months, compared with a charge of AED366 million a year earlier.
The non-performing loan ratio fell to 0.7% from 1.1% a year earlier, and coverage rose to 311% from 235%, Khaleej Times reported.
Net interest margin narrowed to 2.7% from 3.2%. Net interest income rose 7% to AED6.5 billion, while non-interest income grew 18% to AED3.9 billion.
Ahmed Abdelaal, group chief executive officer, said the results showed the bank’s ability “to grow the franchise while maintaining strong returns and credit quality.”
