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Mashreqbank expects about 30 pct Q2 profit growth
DUBAI - Mashreqbank MASB.DU, Dubai’s third-largest lender by market value, said it expects similar first-quarter 30 percent earnings in the second-quarter on trade- and project-related finance.
“The first-quarter was 30 percent. We expect similar growth in the second-quarter,” Abdul-Aziz al-Ghurair, the bank’s chief executive, told reporters in Dubai.
“We expect growth to continue to year-end due to our discipline and strategy to concentrate on our core business, and not to be distracted by IPOs,” Ghurair said.
Omar Bouhadiba, the bank’s head of investment and corporate banking, said he expected more income from trade and project finance.
“The real economy is strong. Our clients are doing very well,” Bouhadiba said.
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