Mashreq bank reported a net profit of AED539mn for 2Q16, +1.4% Q-o-Q and -16.1% Y-o-Y. The bank’s revenue rose 7.5% Q-o-Q and 7.7% Y-o-Y. Provisioning however rose twofold Y-o-Y and 29% Q-o-Q. The bank’s NPL ratio improved to 3.5% and 2.8% at the end of 2015. Loan growth was sluggish at 1% Q-o-Q and 2.6% Y-o-Y. (Company disclosure)
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