DUBAI, 29th October, 2026 (WAM) — Mashreq Bank PSC (MASQ) today reported record nine-month profit before tax of AED 7.3 billion for the period ended 30 September 2026, up 18% year-on-year. Operating income increased 11% to AED 10.4 billion, with growth in operating profit and an improvement in impairments supporting the increase in earnings.
Net profit before tax increased 18% year-on-year to AED 7.3 billion, with AED 635 million of the increase from operating profit growth of 10% on 11% revenue growth, and AED 482 million from the improvement in impairments, from a charge of AED 366 million in 9M 2025 to a net release of AED 116 million.
Third-quarter profit before tax reached AED 2.5 billion, growing 19% year-on-year, with operating profit rising 6% quarter-on-quarter and 13% year-on-year, and net profit after tax for the quarter growing 21% year-on-year to AED 2.1 billion.
Net profit after tax rose 18% to AED 6.1 billion, with the effective tax rate stable at 15.7% under the UAE Domestic Minimum Top-Up Tax (DMTT) and Pillar Two rules, and profit attributable to owners of the parent rising 18% to AED 6.0 billion.
Return on equity of 20.4%, against 19.8% in 9M 2025, and return on assets of 2.1% were delivered on a shareholders’ equity base that expanded 22% year-on-year to AED 46.0 billion, demonstrating the earnings power of a substantially larger asset base. Earnings per share rose 17% to AED 28.8.
Customer lending expanded 13% during the third quarter, while the non-performing loan ratio improved to 0.7% and the Capital Adequacy Ratio stood at 16.7%.
Record nine-month profitability, 33% year-on-year growth in customer loans and improving asset quality, supported by disciplined capital management.
Operating income grew 11% year-on-year to AED 10.4 billion in 9M 2026, supported by net interest income on a substantially expanded loan book and 18% growth in non-interest income. Profit before tax rose 18% to a record AED 7.3 billion, with the third quarter contributing AED 2.5 billion, 19% more than in Q3 2025.
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, exceeding the AED 26.3 billion increase in customer loans. The Bank also raised term funding in the international capital markets during the third quarter.
Asset quality strengthened further, with a non-performing loan ratio of 0.7% and coverage of 311%, while the Capital Adequacy Ratio stood at 16.7%. The nine-month cost-to-income ratio was 31.4%, with continued investment in the Bank’s digital and AI capabilities.
Total assets rose 33% year-on-year and 11% in the quarter to AED 405.6 billion, led by customer lending, investments and liquid assets.
Customer loans grew 33% year-on-year to AED 190.6 billion, a net increase of AED 21.5 billion during the third quarter across wholesale and retail clients, taking total lending to customers and banks to AED 252.3 billion.
Customer deposits grew 27% year-on-year to AED 237.1 billion, with year-to-date inflows of AED 32.2 billion exceeding loan growth of AED 26.3 billion. In the third quarter, loan growth of AED 21.5 billion was funded by AED 9.9 billion of deposit inflows, the USD 500 million senior bond and repurchase agreements, with deposits remaining the core of the Bank’s funding and the CASA ratio at 58%.
The investment portfolio expanded 75% year-on-year to AED 83.7 billion, reflecting the deployment of surplus liquidity into securities.
Investment income of AED 264 million in Q3 2026 came principally from fair value gains on the equity portfolio and realised trading gains, more than double the Q3 2025 contribution.
Operating income grew 11% year-on-year to AED 10.4 billion in 9M 2026, supported by net interest income on a substantially expanded loan book and 18% growth in non-interest income. Profit before tax rose 18% to a record AED 7.3 billion, with the third quarter contributing AED 2.5 billion, 19% more than in Q3 2025.
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, exceeding the AED 26.3 billion increase in customer loans. The Bank also raised term funding in the international capital markets during the third quarter.
Asset quality strengthened further, with a non-performing loan ratio of 0.7% and coverage of 311%, while the Capital Adequacy Ratio stood at 16.7%. The nine-month cost-to-income ratio was 31.4%, with continued investment in the Bank’s digital and AI capabilities.
Abdul Aziz Al Ghurair, Chairman of Mashreq, said: ” The UAE has continued to demonstrate the strength of its economic model, combining policy stability, international connectivity and sustained investment to reinforce its position as a leading global business and financial centre.
The UAE banking sector has been instrumental in supporting this momentum, facilitating economic activity while maintaining strong financial fundamentals. Against this backdrop, Mashreq delivered operating income of AED 10.4 billion in the first nine months of 2026, reflecting the strength of its diversified franchise and the confidence of its clients.”
Ahmed Abdelaal, Group Chief Executive Officer, commented: “Mashreq’s first nine months of 2026 demonstrate our ability to grow the franchise while maintaining strong returns and credit quality. We delivered record nine-month profit before tax of AED 7.3 billion, up 18% year-on-year, and return on equity of 20.4%. Customer lending grew 33% year-on-year, while our non-performing loan ratio improved to 0.7%.
As we scale, our investment in AI and digital capabilities is directed at faster service, simpler customer journeys and greater productivity. Newton, our award-winning GenAI platform for financial crime investigations, has already lifted investigator productivity by around 40% while improving the quality and speed of our investigations. We are focused on embedding these capabilities across the business, supported by strong controls and clear accountability for the value they deliver.”
Source: Emirates News Agency