Thursday 25 August 2016
 
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Mashreq

Mashreq Q2 net profit falls on impairments

Mashreq, Dubai's third-biggest lender by assets, posted on Wednesday a 16.1 percent fall in second-quarter net profit as impairments for bad debt more than doubled and fee and commission income edged lower. Against a backdrop

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Mashreq CEO of investment unit resigns

Mashreq, Dubai's third-biggest bank by assets, said on Thursday the chief executive of its investment unit, Abdul Kadir Hussain, has resigned. Hussain, who was chief executive of Mashreq Capital and Mashreq's head of asset

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Mashreq Q1 net profit falls 18.3pc

Mashreq, Dubai's third-biggest lender by assets, on Sunday posted a 18.3 percent fall in first-quarter net profit as it failed to recoup as many bad debts as it did in the corresponding period of last year. The lender made a n

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Seven Bahrain projects win major awards

Bahrain achieved major success when seven of its highest quality projects were named national winners at the Meed Quality Awards for Projects, in association with Mashreq, said a report. Bahrain’s national winners, whose com

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Mashreq posts $653m net profit in 2015

Mashreq, one of the leading financial institutions in the UAE, said it has maintained a steady performance in 2015 amid difficult market conditions with a solid net profit of Dh2.4 billion ($653 million) over the previous year. An

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Mashreq Q4 net profit falls 13.7pc

Mashreq, Dubai's third-biggest bank by assets, posted a 13.7 percent fall in fourth-quarter net profit on Wednesday. The lender made a net profit of Dh556.2 million ($151.45 million) in the three months to Dec. 31, it said in

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GEMS, Mashreq launch joint contest for students

GEMS Education and leading UAE financial institution Mashreq have launched their second joint 'Mobile Application Development Challenge' for students, commemorating the UAE Innovation Week.   The contest

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Mashreq appoints new retail banking head

Mashreq Retail Banking Group has appointed Subroto Som as its new executive vice president and head.   Farad Irani, who is passing the leadership to Som, brought to bear his extensive global experience and transf

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Fee income fall dents profit at Mashreq

Dubai's third-biggest lender by assets Mashreq posted a 7.6 per cent fall in third-quarter net profit on Wednesday as a drop in income from fees offset stronger profits from loans. The lender made a net profit of Dh551.4 milli

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UAE bank liquidity ‘still good’

Liquidity in the United Arab Emirates banking sector is still good and the government has adequate means to manage liquidity, the chief executive of Dubai's Mashreq bank said on Tuesday. "Our government has lots of resour

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