Mashreq, one of Dubai's oldest banks, reported a net profit attributable to owners of AED 2.07 billion for the second quarter of 2026, an increase of 26% on the same period a year earlier and ahead of analyst forecasts for the quarter.
The result, equivalent to roughly $564 million, beat analyst estimates, Reuters reported. Total operating income for the quarter rose 11% year on year to AED 3.4 billion, according to the bank's management discussion and analysis.
HALF-YEAR PROFIT RISES TO AED 4.05 BILLION
For the first half of 2026, Mashreq's profit reached AED 4.05 billion, up from AED 3.47 billion in the prior-year period. The bank said sustained investment in artificial intelligence and digital platforms had deepened its capabilities.
Mashreq is controlled by the Al Ghurair family and is listed on the Dubai Financial Market. The bank operates across the UAE and in a number of international markets.
RECORD PRE-TAX PROFIT Profit before tax for the half rose 18% to a record AED 4.8 billion, on operating income of AED 6.8 billion. Group Chief Executive Ahmed Abdelaal said the first half of 2026 was shaped by heightened geopolitical and macroeconomic disruption across the region and globally; against that backdrop, Mashreq grew customer loans 26% and deposits 28% year on year.
Mashreq is regulated by the Central Bank of the UAE and is one of the oldest privately owned banks in the country, tracing its origins back to the 1960s.
Full second-quarter financial statements were made available on the bank's investor relations website alongside the results announcement.