Our friends at Mashreq saw their operating income climb to AED 6.2 bn in 1H 2025, up 1% y-o-y on the back of increased lending and strong contributions from both investment and non-interest incomes, according to their management analysis & discussion report (pdf). Net income after tax dipped 14% y-o-y to AED 3.5 bn. The group’s core banking operations as well as its strategic investments and expansion across Oman, Turkey, and Pakistan continued to drive growth.

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Non-interest income rose 17% y-o-y reaching AED 2.2 bn, while investment income grew 55% to AED 213 mn.

On a quarterly basis, Mashreq’s net income after tax fell 16% y-o-y to AED 1.7 bn, though net interest income ticked up 1% q-o-q to AED 2 bn, as prudent asset pricing offset cumulative rate cuts of 100 bps since 2024. Loans and advances grew 21% y-o-y with more lending for residential mortgages, construction, manufacturing, and financial institutions. Customer deposits saw a 15% y-o-y uptick to AED 117 bn.

What they said: Group CEO Ahmed Abdelaal said the strong results were attributed to “strong client activity, a diversified earnings profile, and our unwavering commitment to innovation, efficiency, and value creation.” He referenced investments and upgrades in their technology infrastructure, balanced with “strict cost discipline” as key parts of the bank’s investment strategy.

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