Cairo, Egypt – November 3, 2025
Mashreq reported an increase in operating income to AED 9.4 billion for the first nine months of 2025. The third-quarter operating income of AED 3.2 billion marks a 4% quarter-on-quarter and 8% year-on-year increase, reflecting strong profitable growth across all core businesses — driven by resilient net interest income, rising client activity, and a 20% year-on-year growth in non-interest income.
Solid Profitability
Net profit before tax reached AED 6.1 billion, underscoring Mashreq’s ability to deliver consistent profitability amid a moderating rate environment. This was supported by a 3.2% net interest margin. a cost-to-income ratio of 31%, and a 20% return on equity.
Record Asset Growth
Total assets surpassed AED 300 billion for the first time, reflecting double-digit balance-sheet expansion and the growing depth of Mashreq’s franchise. Customer loans and advances increased by 21% year-on-year. while customer deposits rose by 20% year-on-year, highlighting the bank’s strong financial momentum.
Revenues and Income Generation
Operating income growth was driven by expanding lending activity. stronger client engagement, and higher non-interest income across global businesses.
Net interest income rose 6% quarter-on-quarter to AED 2.1 billion in Q3 2025. maintaining a stable 3.2% net interest margin for the period. CASA deposits represented 66% of total deposits. helping offset rate-driven pressures and preserve spread stability.
Non-interest income increased 20% year-on-year, fueled by a 50% rise in investment income and a 41% increase in other income. This resulted in a 5% year-on-year improvement in the cross-sell ratio to 35%. reflecting stronger client relationships and a balanced earnings mix.
Expenses and Efficiency
Mashreq continued to invest strategically in digital transformation. AI-driven innovation, and international expansion. while maintaining strict cost control.
The cost-to-income ratio remained at an industry-leading 31%, reflecting strong efficiency and operational scalability. Investments focused on next-generation digital ecosystems. AI-powered operational platforms. and expansion across Türkiye, Oman, Pakistan, and India’s GIFT City.
Earnings and Profitability
Net profit after tax stood at AED 5.2 billion in 9M 2025, supported by diversified income growth. disciplined balance-sheet management. and prudent risk controls.
Return on equity reached 20%, while return on assets stood at 2.3%. underscoring Mashreq’s strong profitability.
Tax expenses increased 49% year-on-year to AED 961 million following the introduction of the UAE’s corporate tax and global minimum tax in several markets. yet profitability remained robust.
Impairment charges were contained at AED 366 million (cost of credit 34 bps). reflecting high asset quality and sound risk management.
Leadership Statements
H.E. Abdul Aziz Al Ghurair, Chairman of Mashreq, stated:
“Mashreq’s performance stands as a testament to the strength of our strategic vision and the trust we continue to earn from clients, shareholders, and partners. Surpassing AED 300 billion in total assets reflects our disciplined growth strategy and alignment with the evolving economic priorities of the markets we operate in.”
Ahmed Abdelaal, Group CEO of Mashreq, added:
“Our net profit reached AED 6.1 billion, supported by a 20% increase in non-interest income and AED 9.4 billion in operating income, demonstrating broad-based growth across corporate, retail, and international segments. This year’s commercial launch in Pakistan reinforces our international strategy and digital-first approach.”
Future Outlook
Mashreq remains focused on building a future-ready banking ecosystem that delivers lasting value to clients, shareholders, and communities. With strong capital, diversified growth drivers, and a clear international agenda, the bank is well-positioned to shape the future of financial services in the region and beyond.
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