Dubai:Mashreq Bank PSC (MASQ) has announced a record nine-month profit before tax of AED 7.3 billion for the period ending September 30, 2026, marking an 18% increase compared to the previous year. This growth was driven by an 11% rise in operating income to AED 10.4 billion, along with improvements in impairments.

According to Emirates News Agency, the bank's net profit before tax also saw an 18% year-on-year increase, with significant contributions from operating profit growth and impairment improvements. Specifically, AED 635 million of the growth was attributed to a 10% increase in operating profits on 11% revenue growth, while AED 482 million came from reduced impairments.

The third quarter alone saw a profit before tax of AED 2.5 billion, a 19% increase from the same period last year. Net profit after tax for this quarter grew 21% year-on-year to AED 2.1 billion. Overall, net profit after tax rose 18% to AED 6.1 billion, with a stable effective tax rate of 15.7% under UAE's Domestic Minimum Top-Up Tax and Pillar Two rules. The profit attributable to the bank's owners increased by 18% to AED 6.0 billion.

Mashreq Bank reported a return on equity of 20.4% and a return on assets of 2.1%, reflecting the earnings power of its expanded asset base, which grew 22% year-on-year to AED 46.0 billion in shareholders' equity. Earnings per share increased by 17% to AED 28.8. The bank also experienced a 33% year-on-year growth in customer loans and improved asset quality, supported by disciplined capital management.

The bank's total assets grew by AED 100 billion year-on-year to AED 405.6 billion, with customer lending growth of 33% and deposit growth of 27%. Customer deposits increased by AED 32.2 billion year-to-date, surpassing the AED 26.3 billion increase in customer loans. Asset quality further strengthened with a non-performing loan ratio of 0.7% and a Capital Adequacy Ratio of 16.7%.

Mashreq's investment in AI and digital capabilities aims to enhance service speed, simplify customer journeys, and improve productivity. The bank's GenAI platform for financial crime investigations has notably increased investigator productivity by 40%.