Mashreq, Dubai's third-biggest lender by assets, on Wednesday posted an 11 per cent rise in second-quarter net profit.

The lender made a net profit of Dh649 million ($176.6 million) for the three months to June 30, according to Reuters calculations, an increase on the Dh584.9 million recorded for the corresponding period of 2014.

Mashreq didn't provide a quarterly breakdown in its first-half results filing, so Reuters calculated figures for the three months using previous financial statements.

For the first half of 2015, the bank reported a net profit of Dh1.3 billion, up 11.6 per cent from a year earlier.

For the six-month period, Mashreq cited a 12.7 per cent rise in net interest income and a 3.6 per cent climb in fee and commission income for the profit rise. – Reuters