{"id":28555,"date":"2020-04-16T15:35:28","date_gmt":"2020-04-16T11:35:28","guid":{"rendered":"https:\/\/blog.dubaicityguide.com\/site\/?p=28555"},"modified":"2020-04-16T15:35:28","modified_gmt":"2020-04-16T11:35:28","slug":"mashreq-posts-aed-450-million-net-profit-for-1q-2020","status":"publish","type":"post","link":"https:\/\/blog.dubaicityguide.com\/site\/mashreq-posts-aed-450-million-net-profit-for-1q-2020\/","title":{"rendered":"Mashreq Posts AED 450 Million Net Profit For 1Q 2020"},"content":{"rendered":"<p>Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the first quarter ending 31<sup>st<\/sup> March 2020.<\/p>\n<p><strong><u>Key highlights [1Q 2020 vs 1Q 2019]:<\/u><\/strong><\/p>\n<ul>\n<li><strong><em>Stable Revenues <\/em><\/strong>\n<ul>\n<li>Operating Income for 1Q 2020 stood at AED 1.5 billion, slight decline compared to last year.<\/li>\n<li>Net Profit for the quarter stands at AED 450 million<\/li>\n<\/ul>\n<\/li>\n<li><strong><em>High proportion of non-interest income<\/em><\/strong>\n<ul>\n<li>Mashreq\u2019s best-in-class non-interest income to operating income ratio increased to 48.7% vs 40.4% in 1Q 2019<\/li>\n<li>Significant growth in Investment Income (AED 127 Mn in 1Q 2020 vs AED 48 Mn in 1Q 2019)<\/li>\n<\/ul>\n<\/li>\n<li><strong><em>Solid liquidity &amp; Capital position<\/em><\/strong>\n<ul>\n<li>Liquid Assets ratio stood at 31.8% with Cash and Due from Banks at AED 2 billion as on 31<sup>st<\/sup> March 2020<\/li>\n<li>Capital adequacy ratio and Tier 1 capital ratio continue to be higher than the regulatory limit (15.9% and 14.8% respectively)<\/li>\n<\/ul>\n<\/li>\n<li><strong><em>Prudent Balance Sheet Growth<\/em><\/strong>\n<ul>\n<li>Total Assets grew by 2.0% to AED 162.6 billion while Loans and Advances increased by 2.8% to reach AED 78.3 billion as compared to December 2019<\/li>\n<li>Customer Deposits reduced by 2.7% to AED 88.5 billion<\/li>\n<li>Loan-to-Deposit ratio remained strong at 88.5%<\/li>\n<\/ul>\n<\/li>\n<li><strong><em>Controlled Asset Quality in a Volatile Market<\/em><\/strong>\n<ul>\n<li>Non-Performing Loans to Gross Loans ratio increased to 4.4% in March 2020 vs 3.6% in December 2019<\/li>\n<li>Total Provisions for Loans and advances reached AED 4.3 billion, constituting 101.4% coverage for Non-Performing Loans<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong><u>Exhibits:<\/u><\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-28556\" src=\"https:\/\/blog.dubaicityguide.com\/site\/wp-content\/uploads\/2020\/04\/Untitled-1.jpg\" alt=\"\" width=\"609\" height=\"724\" srcset=\"https:\/\/blog.dubaicityguide.com\/site\/wp-content\/uploads\/2020\/04\/Untitled-1.jpg 609w, https:\/\/blog.dubaicityguide.com\/site\/wp-content\/uploads\/2020\/04\/Untitled-1-252x300.jpg 252w\" sizes=\"auto, (max-width: 609px) 100vw, 609px\" \/><\/p>\n<p><strong><u>Financial Highlights:<\/u><\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-28557\" src=\"https:\/\/blog.dubaicityguide.com\/site\/wp-content\/uploads\/2020\/04\/Untitled-2.jpg\" alt=\"\" width=\"628\" height=\"579\" srcset=\"https:\/\/blog.dubaicityguide.com\/site\/wp-content\/uploads\/2020\/04\/Untitled-2.jpg 628w, https:\/\/blog.dubaicityguide.com\/site\/wp-content\/uploads\/2020\/04\/Untitled-2-300x277.jpg 300w\" sizes=\"auto, (max-width: 628px) 100vw, 628px\" \/><\/p>\n<p><em>*Annualized<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the first quarter ending 31st March 2020. Key highlights [1Q 2020 vs 1Q 2019]: Stable Revenues Operating Income for 1Q 2020 stood at AED 1.5 billion, slight decline compared to last year. Net Profit for the quarter stands [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":28558,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-28555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/28555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/comments?post=28555"}],"version-history":[{"count":1,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/28555\/revisions"}],"predecessor-version":[{"id":28559,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/28555\/revisions\/28559"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/media\/28558"}],"wp:attachment":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/media?parent=28555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/categories?post=28555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/tags?post=28555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}