The financial results for the first nine months of the year, which ended on September 30, 2022, were released by Al-Mashreq Bank today, on Tuesday.
In the first nine months of 2022, the bank reported a net profit of 2. 6 billion dirhams, according to a statement. Customer deposits with the bank increased by 7. 8% from the beginning of the year to date to reach 109. 4 billion dirhams.
In September 2022, the proportion of liquid assets reached 29. 5% (up from 29.
0% in December 2021), and the percentage of capital adequacy reached a very good level at 15. 2%, and the first -level capital rate is 14. 0% in September 2022.
From the start of the year to the end of September 2022, the total loans and predecessors increased by 12.1% to 91.3% billion dirhams, while the ratio of loans to deposits remained constant at 83.5%.
For the first nine months of 2022, the amount of allocations dramatically reduced to 494 million dirhams, or just 0. 6% of the entire loan size.
At the end of September 2022, there were 3.6% of all loans that were troublesome, down from 5.2% at the end of December 2021.
By September 30, 2022, the total amount of loan allocations and predecessors had reached 6.0 billion dirhams, and the proportion of non-loose loans had increased to 149.7% from 128.2% in December 2021.
The operational income climbed by 24.3% over the same time in the prior year to reach 5.3 billion dirhams, mostly as a result of a rise in net interest revenues brought on by the bank’s activities and business seeing rapid expansion.
One of the greatest percentages ever in the industry, the overall income from non-benefits has kept operating income up 42.2%.
Operating profits increased by 33 and amounted to roughly 3. 2 billion dirhams.
Due to the bank’s operating income force and ability to minimise operational expenses, its first nine months of 2021 revenue increased by 2%.
Within nine months, the UAE Bank of Mashreq generated net profits of 2.6 billion dirhams.
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