Mashreq profit up 41% to Dh283m

Mashreq bank, Dubai's second biggest lender by market value, reported on Tuesday a 41 per cent increase in second-quarter net profit, according to Reuters calculations.

The lender made a net profit of Dh286.3 million ($77.9 million) for the three months to end-June, compared to Dh202.6 million a year earlier, Reuters calculated.

Profit for the first six months grew 22 per cent to Dh551.6 million, the bank said in a statement.