Mashreqbank, Q2 profit down 21.3%
United Arab Emirates: Monday, July 31 - 2006 at 07:42
UAE-based Mashreqbank has reported a 21.3% drop in Q2 2006 profit to $86.6m, compared to $110m in Q2 2005. The bank said revenues from brokerage, fund management and IPO financing had been hit by a decline in UAE stock markets. Total assets were up 28% to $12.77bn at the end of June compared to 12 months ago, and customer deposits were up 27%.
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James McInerney, News EditorMonday, July 31 - 2006 at 07:42 UAE local time (GMT+4)
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