Mashreq Bank announced its financial results to the Dubai Financial Market (DFM) for the fiscal year (FY) ending December 31, 2014, reporting a rise in its net profit by 33% to AED 2.40 billion compared to AED 1.81 billion during the same period of 2013.


The Bank’s profit jumped 28% to AED 644 million during the fourth quarter of 2014, compared to AED 505 million during the same period of 2013.


Moreover, total Provisions of the Bank registered an increase by 23% to AED 1.075 billion by the end of 2014, compared to AED 873 million during the corresponding period of 2013.


Financials showed a rise in operational revenues during the period to AED 3.635 billion against AED 2.8 billion, growing 30%.


It is worth highlighting that customer deposits increased by 17% to reach AED 68 billion during the period, compared to AED 59 billion.

Loans and advances grew by 15% to reach AED 58 billion by the end of 2014, compared to AED 50 billion by the end of 2013.


Photo Credit: Arabianeye-Reuters