Mashreq bank proposed a cash dividend of AED4.0 for 2015, which is in-line with last year. A week earlier, Mashreq reported that its net profit was down 2.1% Y-o-Y to AED2,435 million in 2015 as provisioning rose 7.0% Y-o-Y. Mashreq’s loan book expanded by 3.7% Y-o-Y to AED60.2 billion, while deposits grew 7.5% Y-o-Y to AED73.6 billion. Mashreq’s NPL ratio eased to 2.8% in 4Q2015 from 2.9% in 3Q2015 and 3.7% in 4Q2014. (Reuters, Company disclosure)
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