Dubai – Mubasher: Mashreq Bank on Wednesday reported a slight year-on-year increase in net profit during the second quarter of 2018, rising by 1% to AED 563 million.

As for the first six months of 2018, the bank’s net profit increased to AED 1.161 billion from AED 1.103 billion in the year-ago period, according to a statement to the Dubai Financial Market (DFM).

Operating income grew 4% to AED 3.104 million from January to the end of June, compared to AED 2.994 million a year earlier, while loan portfolio went up 8% to AED 67.7 million in the first half of 2018, in comparison with AED 62.4 million in H1-17, Mashreq Bank added.

In April, the Dubai-listed posted a 9.5% year-on-year increase in net profits in Q1-18, recording around AED 598.166 million.