MASHREQ-

Our friends at Mashreq posted AED 3.2 bn in operating income in 3Q 2025, up 8% y-o-y on the back of increased client activity, robust core operations, and a 20% y-o-y uptick in non-interest income, according to its financials (pdf) and a separate management discussion and analysis report (pdf). Net income after tax rose 2% q-o-q to come in at AED 1.7 bn for 3Q.

On a nine-month basis, Mashreq saw its operating income reach 9.4 bn, up 3.1% y-o-y, driven by strong performance from its corporate, retail, and international segments. Net income before tax came in at AED 6.1 bn, as income from investment rose 50% y-o-y to AED 311 mn and income from ins., FX, and other income streams increased by 41% to just shy of AED 2 bn. Customer loans and advances grew by 21% compared to 9M 2024 and customer deposits also saw strong performance — up 20% y-o-y.

The bank also logged total assets of more than AED 300 bn for the first time, as lending to customers and banks increased by 24% y-o-y and customer deposits reached AED 187 bn.

The bank is expanding its operations in Asia this year: The lender rolled out commercial operations in Pakistan in September, and is preparing to open its first branch in India’s GIFT City in 4Q 2025. “Our growing presence across key international markets is enabling us to support the flow of capital and commerce along vital global trade corridors connecting Asia, the Middle East, Europe, and the United States,” CEO Ahmed Abdelaal said.

ALPHA DHABI-

AlphaDhabi Holding’s 3Q 2025 net income came in at AED 3.8 bn, down 13.6% y-o-y, according to its financials (pdf). Revenue rose 27.8% to AED 19.1 bn, supported by growth across industrial, real estate, construction, and services and others, according to a separate earnings release (pdf), .

On a nine-month basis, its bottom line fell 5.9% y-o-y to AED 10.4 bn, while group revenue increased 24.2% y-o-y to AED 54.9 bn, according to its managementdiscussion and analysis report (pdf). Its industrial operations accounted for AED 20.5 bn of total revenues, whilst its real estate segment brought in AED 19.3 bn. Construction added AED 8.8 bn in revenue and services and others contributed AED 6.3 bn. Revenue generated outside the UAE reached AED 7.3 bn, accounting for 13% of group revenue and up 20% y-o-y.

MASDAR-

Renewables giant Masdar reported a drop in its net income to AED 13.1 mn in 2Q, down from AED 103.6 mn during the same period last year, according to its quarterly financials (pdf). The company logged a revenue of AED 750.2 mn, marking a 32.2% y-o-y increase.

During 1H 2025, the company’s revenues grew 15.5% y-o-y to AED 1.7 bn, while its bottom line dropped to AED 48.8 mn — down from AED 111 mn during 1H 2024.

The breakdown: Revenues during 1H came primarily from Uzbekistan (AED 581.7 mn) and Greece (AED 525.2 mn), followed by Spain and the UK. Income from renewable power generation jumped to AED 1.1 bn, up from AED 204.5 mn the year before, while inflows from concessions dropped to AED 579.5 mn, down from AED 1.0 bn. Masdar also invested AED 334.4 mn into physical assets, up from AED 90.8 mn the previous year, reflecting increased spending on property, plants, and equipment.

PUREHEALTH-

ADX-listed healthcare giant PureHealth saw its net income grow 20.7% y-o-y to AED 521.6 mn in 3Q 2025, according to its quarterly financials (pdf) and management discussion and analysis (pdf). Its revenues edged up 1.2% y-o-y to AED 6.5 bn. 3Q saw the firm complete its 60% takeover of Hellenic Healthcare Group, with the largest hospital operator in Greece and Cyprus set to add 11 hospitals and 23 diagnostic centers to PureHealth’s portfolio.

On a nine-month basis, the company’s top line rose 6% y-o-y to AED 20.1 bn on the back of strong core operations from its care and cover verticals. Its UAE operations brought in the lion’s share of revenues with USD 15.3 bn, with international operations bringing in the remaining AED 4.8 bn. Hospitals accounted for 57% of total revenues, followed by its health ins. segment with 22% and procurement with 15%. Its net income increased to AED 1.6 bn — up 7.9% y-o-y.

Driving the results: Higher patient and diagnostic volumes in both the UAE and UK, longer operating hours, and new clinics led to a 20% rise in income from its care segment, while its ins. subsidiary Daman saw robust renewal rates boost its top line, and effective cost management and underwriting raise its bottom line by 22% y-o-y.

BURJEEL HOLDINGS-

Burjeel Holdings saw its 3Q net income rise 27.5% y-o-y to AED 175.2 mn, supported by operating leverage and better cost efficiency, according to its financials (pdf), a separate earnings release (pdf), and a management discussion and analysis report (pdf). Revenues rose 7.9% during the quarter to AED 1.4 bn, driven by a 4.6% uptick in overall patient footfall and sustained demand in complex subspecialties.

For 9M 2025, net income increased 18.2% y-o-y to AED 326 mn, while revenues climbed 10.6% y-o-y to AED 4.1 bn. Its hospital segment accounted for 88% of total revenues for 9M and income from its medical centers operations grew 15.8% y-o-y to AED 111 mn. Outpatient revenues grew 10.8% y-o-y and inpatient income was up 6.4%.

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