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19-04-20
UAE: Mashreq registers AED450 million in Q1-2020 net income
(MENAFN) AED450 million in Q1-2020 net income was recorded by Mashreq today.
The bank's operating profit during the Q1 of the year reached AED1.5 billion, a slight drop in comparison with 2019, as said in a statement by the bank.
A significant expansion in investment profit to AED127 million in Q1 this year was also recorded by the bank, compared to AED 48 million in Q1 last year.
According to the bank, while total assets increased by 2.0 percent to AED162.6 billion, loans and advances climbed by 2.8 percent to AED78.3 billion in comparison with December last year and customer deposits dropped by 2.7 percent to AED88.5 billion as loan-to-deposit ratio stayed strong at 88.5 percent.
MENAFN1904202000450000ID1100047592
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