Mashreq posts Dhs4.048 billion net profit in H1 2026

Mashreq Bank posted net profit after tax of Dhs4.048 billion during the first half of 2026, up 17 per cent compared with the same period last year.

Profit attributable to the owners of the parent increased by 16 per cent to Dhs3.955 billion, while earnings per share reached Dhs19.2 compared with Dhs16.4 in the first half of 2025.

The bank recorded a record profit before tax of Dhs4.805 billion during the first half, an increase of 18 per cent year-on-year, while operating income reached Dhs6.826 billion.

Net interest income and income from Islamic financing rose by 7 per cent to Dhs4.225 billion, while non-interest income increased by 17 per cent to Dhs2.601 billion, raising its contribution to 38 per cent of total operating income.

Fees and commission income increased by 11 per cent to Dhs716 million, supported by strong growth in transaction banking and trade finance activities.

Net investment income surged by 57 per cent to Dhs335 million, driven by favourable fair value movements in the investment portfolio and realised gains from investment securities, while insurance, foreign exchange and other income rose by 13 per cent to Dhs1.551 billion.

Operating expenses amounted to Dhs2.144 billion as the bank continued to invest in generative artificial intelligence initiatives, digital infrastructure, platforms and talent supporting its growth, while maintaining a cost-to-income ratio of 31 per cent.

In terms of asset quality, the non-performing loan ratio remained stable at 0.9 percent despite loan growth, while the coverage ratio increased to 271 per cent compared with 210 per cent in June 2025.

The balance sheet recorded strong growth, with total assets rising 25 per cent year-on-year to a record Dhs365.7 billion. Customer deposits increased by 28 percent to Dhs227.2 billion, while loans and advances to customers grew by 26 percent.

Abdul Aziz Al Ghurair, Chairman of Mashreq, said the UAE once again demonstrated its resilience during the first half of the year despite heightened geopolitical uncertainty, affirming that the country's economic fundamentals remained strong.

He said the bank's results reflect its resilience and the effectiveness of its long-term strategy.

Ahmed Abdelaal, Group Chief Executive Officer, said the bank achieved record results despite geopolitical and economic challenges, noting that growth in deposits and lending, the higher contribution of non-interest income and the continued strength of asset quality underscore the resilience of Mashreq's diversified business model.

He added that the bank enters the second half of the year focused on disciplined growth, efficient capital allocation, and continued investment in technology, artificial intelligence, data and control frameworks.

WAM