Mashreq Posts Record Dh7.3bn Profit for 9 Months as Loans Soar 33%

Mashreq Bank said it posted a record pre-tax profit of Dh7.3 billion for the first nine months of 2026, up 18 per cent year-on-year, as a 33 per cent rise in consumer loans and an impairment reversal boosted profitability.

Operating income jumped 11 per cent to Dh10.4 billion and the bank’s total assets were up Dh100 billion from a year ago to Dh405.6 billion. Net profit after tax grew by 18 per cent to Dh6.1 billion and profit attributable to owners of the parent increased by 18 per cent to Dh6.0 billion.

Customer loans increased 33 per cent year-on-year to Dh190.6 billion, including a net growth of Dh21.5 billion during the third quarter alone, or 13 per cent, among wholesale and retail customers. Customer deposits rose 27 percent to Dh237.1 billion, and the ratio of current and savings accounts, or CASA, was 58 percent.

Excess liquidity was invested in good quality assets and the investment portfolio grew by 75 per cent to Dh83.7 billion. The loan-to-deposit ratio was at 80 per cent against 74 per cent at the end of June.

The non-performing loan ratio improved to 0.7 percent from 1.1 percent a year earlier and 0.9 percent at the end of June. In absolute terms, non-performing loans also fell in the third quarter even as lending grew. Coverage increased to 311 ppercentfrom 235 per cent in September 2025.

Net interest income increased 7 per cent to Dh6.5 billion while non-interest revenue surged 18 per cent to Dh3.9 billion, raising its share of total income to 37 percent. Net investment income nearly doubled to Dh599 million on positive fair-value movements and realized gains.

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