We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

Latest News

Dubai Mashreq Q4 net falls; fee, interest income down

Dubai Mashreq Q4 net falls; fee, interest income down

Q4 earnings fall almost 59 pct - Reuters calculations; Net interest, Islamic income down 15 pct in 2011; Fee, commission income fall 8 pct; Provisions decrease 32 pct in 2011


February 2, 2012 1:35 by

Mashreq bank, Dubai’s second-largest lender by market value, saw its quarterly net profit fall by nearly 59 percent as interest and fee income decreased in the year.

The lender made a net profit of 64 million dirhams ($17.4 million) in the fourth quarter of 2011, according to Reuters calculations, compared to 155.6 million dirhams a year earlier.

Full-year net profit came in at 820 million dirhams, the bank said in a statement, compared to 803 million dirhams in 2010.

Mashreq made impairments worth 1.2 billion dirhams in 2011, a 32 percent fall from 2010, the statement said.

“Net interest income and income from Islamic products net of distribution to depositors for the year 2011 … was down 15.1 percent, while net fee, commission and other income … was down 8.0 percent,” it said. ($1 = 3.6730 UAE dirhams) (Reporting by Mahmoud Habboush; Editing by Firouz Sedarat) *image from


Tags: , , ,

Leave a Comment