Mashreq Bank PSC (MASQ) has reported record nine-month profit before tax of AED7.3 billion ($1.99 billion) for the period ended 30 September 2026, up 18% year-on-year. 

Operating income increased 11% to AED 10.4 billion, with growth in operating profit and an improvement in impairments supporting the increase in earnings.

Net profit before tax increased 18% year-on-year to AED7.3 billion.

Third-quarter profit before tax reached AED2.5 billion, growing 19% year-on-year, with operating profit rising 6% quarter-on-quarter and 13% year-on-year, and net profit after tax for the quarter growing 21% year-on-year to AED2.1 billion.

Net profit after tax rose 18% to AED6.1 billion, with the effective tax rate stable at 15.7% under the UAE Domestic Minimum Top-Up Tax (DMTT) and Pillar Two rules, and profit attributable to owners of the parent rising 18% to AED6.0 billion, the bank said.

Return on equity of 20.4%, against 19.8% in 9M 2025, and return on assets of 2.1% were delivered on a shareholders' equity base that expanded 22% year-on-year to AED 46.0 billion, demonstrating the earnings power of a substantially larger asset base. Earnings per share rose 17% to AED 28.8.

Customer lending expanded 13% during the third quarter, while the non-performing loan ratio improved to 0.7% and the Capital Adequacy Ratio stood at 16.7%.

Record nine-month profitability, 33% year-on-year growth in customer loans and improving asset quality, supported by disciplined capital management, it said.