1 Min Read
DUBAI, April 12 (Reuters) - Mashreq, Dubai's third-biggest lender by assets, on Wednesday reported a 2.7 percent rise in first-quarter net profit as bad loans eased.
Net profit rose to 546 million dirhams ($148.7 million) in the three months to March 31, it said in a statement, up from 532 million.
Mashreq said the rise was primarily due to a 15 percent drop in impairment charges.
$1 = 3.6730 UAE dirham Reporting by Tom Arnold; editing by Jason Neely