Dubai lender Mashreq Q1 net profit rises 35 pct

DUBAI, April 30 Wed Apr 30, 2014 10:05am EDT

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DUBAI, April 30 (Reuters) - Dubai's Mashreq, the emirate's third-biggest lender by assets, posted a 35 percent rise in first-quarter net profit on Wednesday as net interest income, fees and commissions rose.

The lender made a net profit of 575 million dirhams ($156.6 million) in the opening three months of 2014, it said in a statement, up from 425 million dirhams in the corresponding period of last year.

Arqaam Capital expected the bank to make a profit in the quarter of 549 million dirhams. ($1 = 3.6730 UAE Dirhams) (Reporting by Praveen Menon; editing by Matt Smith)

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