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Mashreqbank profit down 10%
- United Arab Emirates: Thursday, February 01 - 2007 at 07:34
UAE-based Mashreqbank Group's full-year profit came in 10% lower at $428m, after last year's stock market crash led to a decline in investment income. Assets grew by 22% to reach $15.44bn. Loans and advances were up by 28% to $7.79bn, while customer deposits increased by 13% to $9.23bn. The bank said profits were "healthy" compared with the last five years.
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James McInerney, News EditorThursday, February 01 - 2007 at 07:34 UAE local time (GMT+4)
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This article was updated on Sat Feb 03 2007.
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