Dubai – Mubasher: Mashreq Bank announced in a filing to the Dubai Financial Market (DFM) that its Board of Directors will convene on Sunday, January 18, 2015, to tackle the Bank’s financial statements for the year ending December 31, 2014.

Moreover the Board will discuss the profit distribution for the said financial year, added to determining the agendas of the Bank’s annual ordinary and extraordinary shareholders meetings.

Bankers previously said that UAE bank profits are expected to be the highest in history after recording AED 28 billion in 2013 and AED 23.8 billion in 2012. It is expected that the banks will continue their growth to reach nearly AED 35 billion in 2014.

Mashreq Bank’s financials for the first nine months of 2014, ending September 30, 2014 showed 36.6% net profit rise compared to the same period in 2013. Moreover, profits surged by 56.3% during Q2-14.

Photo Credit: Arabianeye-Reuters