Mashreq Delivers Strong 9M 2025 Performance with Operating Income of AED 9.4 Billion and 8% Year-on-Year Growth in Q3; Total Assets Surpassing AED 300 Billion

Cairo, Egypt – Mashreq reported an increase in Operating Income to AED 9.4 billion for the 9M 2025. The third quarter Operating Income of AED 3.2 billion, is an increase of 4% Quarter-on-Quarter and 8% Year-on-Year, reflecting strong profitable growth across all its core businesses, mainly driven by rising client activity, resilient Net Interest Income and high non-interest income growth (20% Year-on-Year).

Net Profit Before Tax of AED 6.1 billion, underscoring the Bank’s ability to continue to deliver strong profitability amid a moderating rate environment, supported by a Net Interest Margin of 3.2%, a Cost-to-Income Ratio of 31%, and a Return on Equity of 20%.

Total Assets surpassed AED 300 billion for the first time, with continued double-digit balance-sheet expansion and the depth of Mashreq’s franchise. Customer Loans & Advances increased by 21% Year-on-Year and customer deposits by 20% Year-on-Year.

Mashreq continues to advance its strategy by combining balanced growth with efficiency, accelerating investment in digital platforms and data intelligence, and expanding its global presence to create enduring value for clients and shareholders.

Revenues and Income Generation

Operating income growth led by expanding lending activity, deeper client engagement, and stronger non-interest income across Mashreq’s global businesses.

Operating income increased to AED 9.4 billion in 9M 2025, a result of broad-based commercial strength across corporate and retail, as well as the various international segments. Growth in loans and advances and customers deposits remain key drivers, complemented by rising client activity and a strong contribution from non-interest income, demonstrating Mashreq’s ability to convert business momentum into strong topline growth and diversified earnings amid an easing rate environment.

Net interest income rose 6% quarter-on-quarter to AED 2.1 billion in Q3 2025, with a stable Net Interest Margin of 3.2% for 9M 2025. Loan growth, disciplined asset repricing, and a strong funding base, with Current Account Savings Account (CASA) at 66% of deposits, continued to offset rate-driven margin pressure and preserve spread stability.

Non-interest income increased 20% year-on-year, driven by a 50% rise in Investment Income and a 41% increase in Other Income, reflecting stronger client activity, market opportunities captured across investment and trading portfolios, and ongoing diversification of Mashreq’s revenue base.

Growth in non-interest income led to a near 5% year-on-year improvement in the Cross-Sell Ratio to 35%, highlighting deepening client relationships and more balanced earnings mix across businesses.

Expenses and Efficiency

Strategic investments in digital platforms, AI capabilities, and international expansion managed through disciplined cost control to maintain Mashreq’s industry-leading efficiency and operational scalability.

Mashreq continued to drive investments toward digital transformation, AI-led innovation, and international expansion, reinforcing the Bank’s long-term competitiveness and scalability while maintaining one of the most efficient cost structures.

Cost-to-Income Ratio remained industry-leading at 31%, underscoring Mashreq’s ability to pursue growth and modernization while preserving strict cost discipline through automation, process streamlining, and technology-led operating leverage.

Spending remained tightly focused on high-impact initiatives including next-generation digital ecosystems, AI-driven operational platforms, and expansion across Türkiye, Oman, Pakistan and India’s GIFT City.
Mashreq’s operating model continues to drive scale and efficiency, enabling the Bank to invest confidently in transformation and international growth while sustaining benchmark levels of productivity and cost efficiency.

Earnings and Profitability

Profit strength supported by diversified income streams, disciplined balance-sheet management, and prudent risk controls despite a softer rate environment and higher taxation.

Mashreq delivered Net Profit Before Tax of AED 6.1 billion and Net Profit After Tax of AED 5.2 billion in 9M 2025, marking another strong earnings performance driven by diversified income growth, disciplined balance-sheet management, and consistent operational excellence across the franchise.

Strong Return on Equity stood at 20% and Return on Assets at 2.3%, reflecting Mashreq’s consistent ability to generate solid returns through disciplined execution, efficient capital deployment, and an enhanced operating model.
Tax expense rose 49% year-on-year to AED 961 million following the UAE’s adoption of the corporate income tax regime and the introduction of Global Minimal Tax in most countries Mashreq operates in; nevertheless, profitability remained firm, supported by strong underlying income and sustained cost efficiency.

Impairment charges were contained at AED 366 million (cost of credit 34 bps), underscoring Mashreq’s high asset quality, conservative provisioning, and prudent risk management practices that continue to safeguard earning stability.

H.E. Abdul Aziz Al Ghurair – Chairman, Mashreq said: “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 is a clear reflection of our disciplined growth strategy and our deep alignment with the evolving economic priorities of the markets in which we operate. This achievement comes at a time when the UAE’s banking sector is demonstrating exceptional resilience and dynamism. Backed by strong capital and liquidity positions, improved asset quality, and steady growth across key indicators, the financial system remains well-positioned to support economic expansion.”

Ahmed Abdelaal – Group Chief Executive Officer, Mashreq said: “Mashreq continues to deliver strong and sustainable performance underpinned by a clear strategic vision and a disciplined operating model. Our net profit reached AED 6.1 billion, supported by a 20% year-on-year increase in non-interest income and AED 9.4 billion in operating income, reflecting broad based growth across corporate, retail, and international segments.

One of the most significant developments this year has been our commercial launch in Pakistan, a milestone that reinforces our international strategy. We have received strong support from government, regulators and stakeholders, and the market’s positive reception has validated our digital first approach to serving both individuals and businesses in one of the most promising economies in the region.”

We remain focused on building a future-ready banking ecosystem that delivers lasting value to our clients, shareholders, and communities. With strong capital, diversified growth drivers, and a clear international agenda, Mashreq is exceptionally well placed to capture new opportunities and shape the future of financial services in the region and beyond.