Dubai - Mubasher: The consolidated interim financials of Mashreq Bank recorded a 24.7% decline in net profits attributable to the owners to AED 265.071 million during the first nine months of 2021 from AED 352.024 million in the year-ago period.

The bank's net interest income and income from Islamic financing rose by 8.5% year-on-year (YoY) to AED 2.235 billion in the January-September period of 2021 from AED 2.06 billion.

The bank's assets increased to AED 169.561 billion as of 30 September 2021 from AED 158.523 billion as of 31 December 2020.

The earnings per share (EPS) stood at AED 1.49 in the first nine months of 2021, versus AED 1.98 in the corresponding period of the previous year.

During the third quarter (Q3) of 2021, the bank's net profits attributable to the owners decreased to AED 179.715 million from AED 183.108 million in the same quarter of 2020.

Chairman of Mashreq Bank, Abdul Aziz Al Ghurair, commented: "Despite the bank’s conservative risk strategy, the bank has been able to deliver robust growth and maintain a comfortable liquidity position, providing fiscal headroom to continue to invest in our most vital asset, our people."

Meanwhile, the Group CEO of Mashreq Bank, Ahmed Abdelaal, said: "Mashreq’s advanced digital transformation programme has continued to deliver outstanding service to customers throughout the nine months ending 30 September 2021."

It is noteworthy to mention that during the first half (H1) of 2021, the bank registered an 84% YoY drop in its net profits to AED 85.4 million in the first half (H1) of 2021, compared to AED 535.1 million.