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Dubai lender Mashreq Q2 net profit jumps 45 pct
July 23, 2014 / 11:08 AM / 3 years ago

Dubai lender Mashreq Q2 net profit jumps 45 pct

DUBAI, July 23 (Reuters) - Mashreq, Dubai’s third-biggest lender by assets, on Wednesday posted a 45 percent jump in second-quarter net profit.

The lender made a net profit of 585 million dirhams ($159.3 million) for the three months to June 30, it said in a statement, an increase on the 402.6 million dirhams recorded for the corresponding period of last year.

Arqaam Capital had expected the bank to make a profit in the quarter of 532 million dirhams. ($1 = 3.6728 United Arab Emirates Dirhams) (Reporting by David French; Editing by Olzhas Auyezov)

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