Mashreq's Q2 profit falls

01 August 2010

Dubai-based Mashreq's second-quarter net profit more than halved from the previous year as the lender booked higher provisions against bad loans. The lender, Dubai's largest bank by market value, made a net profit of Dhs202m ($55.01m) in the three months to June 30, based on Reuters calculations, down from Dhs434.9m in the same period last year.

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