Dubai – Mubasher: Mashreq Bank generated net profits after tax valued at AED 1.79 billion in the first quarter (Q1) of 2025, down 12% from AED 2.04 billion in Q1-24.
Earnings per share (EPS) hit AED 8.52 as of 31 March 2025, an annual drop from AED 9.77 in Q1-24, according to the financial results.
Total operating income declined by 1% year-on-year (YoY) to AED 3.12 billion in the first three months (3M) of 2025 from AED 3.14 billion.
Quarterly, the Q1-25 net profits plunged by 44% from AED 3.17 billion in Q4-24, while the operating income shrank by 28% from AED 4.31 billion.
Mashreq Bank reported 9% YoY higher total assets at AED 272.70 billion as of 31 March 2025, compared to AED 249.59 billion. The customer deposits grew by 10% YoY to AED 171.44 billion from AED 155.49 billion.
Ahmed Abdelaal, CEO of Mashreq Bank, commented: “We advanced several strategic priorities during the quarter, including the launch of Mashreq Oman and the successful pilot of digital retail banking in Pakistan.”
“We also continued to strengthen our presence across key markets in MENA and Egypt, aligning our expansion strategy with client demand for more connected, innovative banking solutions,” Abdelaal stated.
He noted: “We introduced Mashreq Biz to empower SMEs, expanded our partnership with Mastercard to Pakistan, and launched a collaboration between NEOBIZ and NEOPAY to enhance digital access for entrepreneurs. These initiatives underscore our commitment to financial inclusion, innovation, and scalable growth.”
“Looking ahead, we remain focused on scaling our Banking-as-a-Service model, deepening embedded finance capabilities, and accelerating the deployment of AI-driven solutions to deliver seamless, hyper-personalized client experiences across every touchpoint,” the CEO concluded.
