Mashreq Bank reported a 4 per cent rise in its net profit in 2024 to AED 9 billion in 2024, compared to the previous year.
The bank’s profit before tax (PBT) was at AED 9.9 billion, representing a 12 per cent increase in 2024.
Mashreq also reported a 24 per cent jump in its revenue in 2024 to AED 13.4 billion.
Its net interest income last year grew by 9 per cent YoY despite interest rate cuts in 2024, while the non-interest income surged by 63 per cent to AED 5 billion highlighting the continued emphasis on diversifying revenue streams through robust fee-generating activities and strong client engagement in FX, derivatives, and commodities.
Abdul Aziz Al Ghurair, Chairman of Mashreq, said the record-breaking financial results of the bank reflect its unwavering commitment to delivering value to the stakeholders. while aligning with the UAE’s vision for sustainable growth and global leadership.
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