30.07.2009 - Mashreqbank’s Q2 profits plummet 39 pct
From Khaleejtimes.com: Mashreqbank reported on Wednesday that its second-quarter net profit had tumbled by 39 per cent compared with the same period last year, due to increased provisions against bad loans that the bank took amid the country’s slowing economic growth. Mashreqbank’s quarterly net income fell to Dh434.9 million from Dh706.9 million in 2008, it said. The UAE’s fifth-biggest bank by assets booked provisions of Dh319 million in the April-June quarter........Full Article: Source
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