Dubai - Mubasher: The net profit attributable to the owners of Mashreq Bank reached AED 3.70 billion in 2022, an annual leap of 269.80% from AED 1 billion.

Earnings per share (EPS) settled at AED 18.48 last year, versus AED 5 in the January-December 2021 period, according to the financial results.

The operating income grew by 29.10% year-on-year (YoY) to AED 7.49 billion in 2022 from AED 5.80 billion.

Total assets enlarged by 12.30% to AED 198.81 billion in 2022 from AED 177.05 billion in 2021, while customer deposits increased by 12.10% to AED 113.80 billion from AED 101.48 billion. 

Ahmed Abdelaal, Group CEO of Mashreq Bank, commented: “Operating profits soared by 39.20% YoY despite the impact of the high growth in net interest income, the bank’s non-interest income to operating income ratio remains one of the industry’s best at 39%.”

Abdelaal continued: “The bank also delivered healthy growth in its loan portfolio, which grew by 11% by the year-end to stand at AED 90.30 billion.”

The official indicated that the bank sponsored Egypt’s hosting of COP27 last year. “We facilitated more than $15.50 billion of sustainable finance as of the end of 2022,” he noted.

Additionally, the Group CEO highlighted firm support for the UAE's journey towards a greener economy, with the Gulf nation hosting COP28 in 2023.

In the first nine months (9M) of 2022, the DFM-listed lender logged net profits attributable to the equityholders worth AED 2.58 billion, compared to AED 265.07 million in 9M-21.