Mashreqbank Net Profit Soars 101%

DUBAI, 16 October 2005 — Dubai-based Mashreqbank Group said yesterday its 9-month net profit soared 101 percent to 1.1 billion dirhams ($230 million). A bank statement on the Dubai bourse website said net interest income rose to 723,793 million dirhams versus 627,962 million dirhams, while total operating income jumped to 2.2 billion dirhams, compared to 1.2 billion dirhams in the year-ago period.