Valuation Update With 7 Day Price Move • Aug 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to د.إ300, the stock trades at a trailing P/E ratio of 8.4x. Average forward P/E is 8x in the Banks industry in United Arab Emirates. Total returns to shareholders of 162% over the past three years. Reported Earnings • Jul 31
Second quarter 2026 earnings: EPS and revenues exceed analyst expectations Second quarter 2026 results: EPS: د.إ10.01 (up from د.إ7.89 in 2Q 2025). Revenue: د.إ3.61b (up 23% from 2Q 2025). Net income: د.إ2.07b (up 29% from 2Q 2025). Profit margin: 57% (up from 55% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.4%. Earnings per share (EPS) also surpassed analyst estimates by 19%. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Ankündigung • Jul 24
Mashreqbank PSC to Report Q2, 2026 Results on Jul 30, 2026 Mashreqbank PSC announced that they will report Q2, 2026 results on Jul 30, 2026 Reported Earnings • May 05
First quarter 2026 earnings released: EPS: د.إ9.39 (vs د.إ8.55 in 1Q 2025) First quarter 2026 results: EPS: د.إ9.39 (up from د.إ8.55 in 1Q 2025). Revenue: د.إ3.34b (up 11% from 1Q 2025). Net income: د.إ1.88b (up 15% from 1Q 2025). Profit margin: 56% (up from 54% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Mar 04
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.2% to د.إ231. The fair value is estimated to be د.إ298, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 15%. Ankündigung • Feb 11
Mashreqbank PSC, Annual General Meeting, Mar 10, 2026 Mashreqbank PSC, Annual General Meeting, Mar 10, 2026, at 10:00 Arabian Standard Time. Location: dubai United Arab Emirates New Risk • Feb 10
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 4.2% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Declared Dividend • Feb 04
Dividend reduced to د.إ10.20 Dividend of د.إ10.20 is 52% lower than last year. Ex-date: 19th March 2026 Payment date: 1st January 1970 Dividend yield will be 4.0%, which is lower than the industry average of 5.8%. Sustainability & Growth The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 45% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Ankündigung • Feb 03
Mashreqbank PSC announces Annual dividend Mashreqbank PSC announced Annual dividend of AED 10.2000 per share, ex-date on March 19, 2026 and record date on March 20, 2026. Reported Earnings • Feb 03
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: د.إ32.98 (down from د.إ44.45 in FY 2024). Revenue: د.إ12.1b (down 11% from FY 2024). Net income: د.إ6.84b (down 23% from FY 2024). Profit margin: 56% (down from 66% in FY 2024). The decrease in margin was primarily driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.0%. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jan 06
Price target decreased by 7.2% to د.إ272 Down from د.إ293, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of د.إ260. Stock is up 19% over the past year. The company posted earnings per share of د.إ44.45 last year. Reported Earnings • Nov 04
Third quarter 2025 earnings released: EPS: د.إ8.16 (vs د.إ8.83 in 3Q 2024) Third quarter 2025 results: EPS: د.إ8.16 (down from د.إ8.83 in 3Q 2024). Revenue: د.إ3.08b (up 8.0% from 3Q 2024). Net income: د.إ1.68b (down 4.9% from 3Q 2024). Profit margin: 55% (down from 62% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Banks industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Oct 29
Mashreqbank PSC to Report Q3, 2025 Results on Nov 03, 2025 Mashreqbank PSC announced that they will report Q3, 2025 results on Nov 03, 2025 Reported Earnings • Jul 30
Second quarter 2025 earnings released: EPS: د.إ7.89 (vs د.إ9.94 in 2Q 2024) Second quarter 2025 results: EPS: د.إ7.89 (down from د.إ9.94 in 2Q 2024). Revenue: د.إ2.92b (down 4.7% from 2Q 2024). Net income: د.إ1.65b (down 17% from 2Q 2024). Profit margin: 56% (down from 65% in 2Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Banks industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Jul 24
Mashreqbank PSC to Report Q2, 2025 Results on Jul 29, 2025 Mashreqbank PSC announced that they will report Q2, 2025 results on Jul 29, 2025 Reported Earnings • May 01
First quarter 2025 earnings released: EPS: د.إ8.52 (vs د.إ10.01 in 1Q 2024) First quarter 2025 results: EPS: د.إ8.52 (down from د.إ10.01 in 1Q 2024). Revenue: د.إ3.02b (down 2.7% from 1Q 2024). Net income: د.إ1.76b (down 13% from 1Q 2024). Profit margin: 58% (down from 65% in 1Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Banks industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 44% per year whereas the company’s share price has increased by 47% per year. Ankündigung • Apr 24
Mashreqbank PSC to Report Q1, 2025 Results on Apr 30, 2025 Mashreqbank PSC announced that they will report Q1, 2025 results on Apr 30, 2025 Major Estimate Revision • Mar 12
Consensus revenue estimates increase by 13% The consensus outlook for revenues in fiscal year 2025 has improved. 2025 revenue forecast increased from د.إ12.4b to د.إ13.9b. EPS estimate increased from د.إ30.59 to د.إ36.99 per share. Net income forecast to shrink 20% next year vs 2.9% decline forecast for Banks industry in United Arab Emirates. Consensus price target up from د.إ272 to د.إ293. Share price fell 3.5% to د.إ251 over the past week. Ankündigung • Feb 06
Mashreqbank PSC, Annual General Meeting, Feb 27, 2025 Mashreqbank PSC, Annual General Meeting, Feb 27, 2025, at 10:00 Arabian Standard Time. Declared Dividend • Feb 01
Dividend increased to د.إ21.10 Dividend of د.إ21.10 is 14% higher than last year. Ex-date: 7th March 2025 Payment date: 1st January 1970 Dividend yield will be 8.8%, which is higher than the industry average of 5.8%. Sustainability & Growth Dividend is well covered by earnings (43% payout ratio) and is expected to be covered in 3 years' time (51% forecast payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 18% over the next 3 years. However, it would need to fall by 52% to increase the payout ratio to a potentially unsustainable range. Buy Or Sell Opportunity • Jan 31
Now 25% overvalued Over the last 90 days, the stock has fallen 1.3% to د.إ237. The fair value is estimated to be د.إ190, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 40% over the last 3 years. Earnings per share has grown by 54%. For the next 3 years, revenue is forecast to grow by 2.0% per annum. Earnings are forecast to decline by 8.9% per annum over the same time period. Ankündigung • Jan 27
Mashreqbank PSC to Report Fiscal Year 2024 Results on Jan 30, 2025 Mashreqbank PSC announced that they will report fiscal year 2024 results on Jan 30, 2025 Ankündigung • Jan 22
Mashreq Appoints Vivek Batra as the New Global Head of Transaction Banking Mashreq announced the appointment of Vivek Batra as the new Global Head of Transaction Banking. In his role, Vivek will assume full responsibility for Global Transaction Banking across Mashreq Group, driving innovative strategies to solidify GTB's position as a cornerstone of the Group's overarching vision for growth and market leadership. Vivek brings to his new role a wealth of experience in senior roles across the banking sector, including as Head of Transaction Banking for MUFG's Asia GTB business, Global Sales Head for GTB at DBS. He has also acted as a Senior Adviser with BCG, helping banks deliver and execute their digital and transaction banking strategies. In his new role, Vivek will have a particular focus on commercializing the capabilities being delivered via the new Mashreq NEO CORP platform covering cash management, collections, documentary trade, and supply chain finance, as well as further developing the business in all international markets. He will also lead the push into new digital banking and industry ecosystems, leveraging the market-leading digital capabilities of Mashreq's new tech stack. Vivek holds a postgraduate Diploma in Management (MBA equivalent) from the Indian Institute of Management and a Bachelor of Commerce degree from St. Xavier's College, Mumbai University. Ankündigung • Jan 07
Dgpays S.A R.L. and Arcapita Group Holdings Limited acquired 65% stake in IDFAA Payment Services LLC from Mashreqbank PSC (DFM:MASQ). Dgpays S.A R.L. and Arcapita Group Holdings Limited has signed memorandum of understanding to acquire 65% stake in IDFAA Payment Services LLC from Mashreqbank PSC (DFM:MASQ) for an enterprise value of approximately $385 million on September 12, 2024. Mashreq retains a significant minority interest. Mashreq retains a significant minority stake in NEOPAY. The disposal is expected to be completed subsequently subject to required regulatory consents and approvals, and therefore, the criteria for derecognizing the disposal group has not been met as of the condensed consolidated interim financial statements date. The transaction is expected to have a positive impact on Mashreqbank and its shareholders. The impact of the transaction on the business results and financial position of Mashreqbank will be noted in its forthcoming financial statements.
Goldman Sachs International Dubai International Financial Centre acted as financial advisor Mashreqbank PSC (DFM:MASQ). Denovo Partners (DIFC) Limited acted as financial advisor to Dgpays S.A R.L. and Arcapita Group Holdings Limited. Clifford Chance LLP (UAE) acted as legal advisor to Mashreqbank PSC (DFM:MASQ). Freshfields Bruckhaus Deringer US LLP acted legal advisor to Arcapita Group Holdings Limited, Freshfields Bruckhaus Deringer LLP legal advisor to Dgpays S.a.r.l.
Dgpays S.A R.L. and Arcapita Group Holdings Limited completed the acquisition of 65% stake in IDFAA Payment Services LLC from Mashreqbank PSC (DFM:MASQ) on January 6, 2025. Price Target Changed • Jan 07
Price target increased by 10.0% to د.إ255 Up from د.إ231, the current price target is an average from 2 analysts. New target price is 17% above last closing price of د.إ218. Stock is up 44% over the past year. The company is forecast to post earnings per share of د.إ32.15 for next year compared to د.إ42.82 last year. Ankündigung • Dec 19
Mashreq Appoints Jyothi Bhatula as Global Head of Mashreq Global Network and Managing Director of MGN India Mashreq announced the appointment of Jyothi Bhatula as the global head of Mashreq Global Network (MGN) & managing director MGN India. In her new role, Jyothi will oversee the operations of MGN’s distributed workforce platform across India, Pakistan, and Egypt, ensuring it continues to deliver dynamic, high-quality talent and services to support Mashreq’s strategic, digital, and operational goals. Prior to the new role, Bhatula served as the chief operating officer for UBS India Service Co., where she also managed India operations and the technology division, playing a key role in integrating Credit Suisse into UBS. With over 20 years of experience, Bhatula has held leadership roles in Singapore and India at Credit Suisse, where she managed global programs and enhanced operational efficiencies. Bhatula, who holds a degree in Electronics Engineering from JNTU Hyderabad and an MBA from NUS Business School; also has an entrepreneurial streak as the owner and operator of two restaurants in Mumbai. Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: د.إ8.83 (vs د.إ11.23 in 3Q 2023) Third quarter 2024 results: EPS: د.إ8.83 (down from د.إ11.23 in 3Q 2023). Revenue: د.إ2.85b (down 10% from 3Q 2023). Net income: د.إ1.77b (down 21% from 3Q 2023). Profit margin: 62% (down from 71% in 3Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Banks industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 57% per year, which means it is significantly lagging earnings growth. Ankündigung • Oct 25
Mashreqbank PSC to Report Q3, 2024 Results on Oct 29, 2024 Mashreqbank PSC announced that they will report Q3, 2024 results on Oct 29, 2024 Ankündigung • Sep 27
An undisclosed buyer acquired 21.53% stake in Depa PLC (DIFX:DEPA) from Mashreqbank PSC (DFM:MASQ) for AED 44.9 million. An undisclosed buyer acquired 21.53% stake in Depa PLC (DIFX:DEPA) from Mashreqbank PSC (DFM:MASQ) for AED 44.9 million on September 26, 2024. A cash consideration of AED 44.9 million will be paid by the buyer. As part of consideration, AED 44.9 million is paid towards common equity of Depa PLC.
An undisclosed buyer completed the acquisition of 21.53% stake in Depa PLC (DIFX:DEPA) from Mashreqbank PSC (DFM:MASQ) for AED 44.9 million on September 26, 2024. Reported Earnings • Jul 26
Second quarter 2024 earnings released: EPS: د.إ9.94 (vs د.إ9.50 in 2Q 2023) Second quarter 2024 results: EPS: د.إ9.94 (up from د.إ9.50 in 2Q 2023). Revenue: د.إ3.07b (up 16% from 2Q 2023). Net income: د.إ2.00b (up 4.7% from 2Q 2023). Profit margin: 65% (down from 72% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Banks industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 59% per year, which means it is significantly lagging earnings growth. Ankündigung • Jul 08
Mashreq Appoints Tushar Vikram as Country Head and CEO of India Operations Mashreq has appointed Tushar Vikram as its new country head and CEO of India, starting June 2024. In his new role, Vikram will lead the bank’s operations in India, driving the strategic direction and growth in the country. In his previous stint, he served as the group head of investment banking for HDFC Bank, where he led the project finance, equity, debt capital markets and M&A. Prior to that, he spent 27 years with Citibank in various roles, covering commercial bank, investment and structured finance, digitisation, credit processes, and risk management. With a background in investment banking, corporate finance, and strategic financial management, he has expertise in navigating complex financial landscapes and driving sustainable growth strategies. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: د.إ10.01 (vs د.إ8.03 in 1Q 2023) First quarter 2024 results: EPS: د.إ10.01 (up from د.إ8.03 in 1Q 2023). Revenue: د.إ3.10b (up 28% from 1Q 2023). Net income: د.إ2.01b (up 25% from 1Q 2023). Profit margin: 65% (down from 66% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Banks industry in United Arab Emirates. Ankündigung • Apr 16
Mashreqbank PSC to Report Q1, 2024 Results on Apr 25, 2024 Mashreqbank PSC announced that they will report Q1, 2024 results on Apr 25, 2024 Declared Dividend • Feb 09
Dividend increased to د.إ18.50 Dividend of د.إ18.50 is 106% higher than last year. Ex-date: 15th March 2024 Payment date: 1st January 1970 Dividend yield will be 9.0%, which is higher than the industry average of 5.8%. Sustainability & Growth Dividend is well covered by earnings (43% payout ratio) and is expected to be well covered in 3 years' time (43% forecast payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 32% over the next 3 years. However, it would need to fall by 52% to increase the payout ratio to a potentially unsustainable range. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to د.إ210, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Banks industry in United Arab Emirates. Total returns to shareholders of 283% over the past three years. Ankündigung • Feb 03
Mashreqbank PSC, Annual General Meeting, Mar 07, 2024 Mashreqbank PSC, Annual General Meeting, Mar 07, 2024. New Risk • Jan 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Emirian stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 12% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.9% average weekly change). Reported Earnings • Jan 30
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: د.إ42.82 (up from د.إ18.48 in FY 2022). Revenue: د.إ12.2b (up 74% from FY 2022). Net income: د.إ8.59b (up 132% from FY 2022). Profit margin: 71% (up from 53% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 33%. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Banks industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Ankündigung • Jan 24
Mashreqbank PSC to Report Fiscal Year 2023 Results on Jan 29, 2024 Mashreqbank PSC announced that they will report fiscal year 2023 results on Jan 29, 2024 New Risk • Nov 24
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 8.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 8.2% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.9% average weekly change). Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: د.إ11.23 (vs د.إ5.89 in 3Q 2022) Third quarter 2023 results: EPS: د.إ11.23 (up from د.إ5.89 in 3Q 2022). Revenue: د.إ3.18b (up 58% from 3Q 2022). Net income: د.إ2.25b (up 91% from 3Q 2022). Profit margin: 71% (up from 59% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Ankündigung • Oct 19
Mashreqbank PSC to Report Q3, 2023 Results on Oct 26, 2023 Mashreqbank PSC announced that they will report Q3, 2023 results on Oct 26, 2023 New Risk • Oct 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Emirian stocks, typically moving 5.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 7.5% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.9% average weekly change). Ankündigung • Sep 06
Mashreq Appoints Norman Tambach as Its New Group Chief Financial Officer Mashreq has appointed Norman Tambach as its new Group Chief Financial Officer. In this pivotal role, Tambach will play a crucial part in supporting the future vision of the bank in terms of developing and executing financial strategies that support the bank's strategic objectives, driving innovative and technology adoption, and process improvements within the finance and corporate affairs functions across the group. With an illustrious international career in banking and finance, Tambach brings a wealth of expertise encompassing an array of critical domains including strategic financial engineering, M&A, financial operations, regulatory governance, risk management, capital management and corporate tax planning. This is in addition to in-depth understanding of financial technologies, data analytics, and digital transformation. His distinguished background comprises several senior financial leadership roles, including his time at the publicly listed global bank ING, which he joined in 2013 as Group Controller and Head of Finance. Tambach became the Chief Financial Officer and Executive Board Member of ING Germany in 2019. Previously he held significant positions at KPMG in Belgium and the Netherlands. Tambach will take a leading role in the oversight of the Bank's balance sheet, its financial reporting structure, and its interaction with multiple regulatory and tax jurisdictions. He will also play a central role in the continued digitization of the Bank's financial operations, the efficacy of its reporting functions, and the professional development of a highly experienced finance team. Ankündigung • Aug 17
Mashreq Appoints Faisal Mohammed AlShimmari as the Head of ESG and Corporate Strategy Mashreq announced the appointment of a senior Emirati, Faisal Mohammed AlShimmari as Head of ESG & Corporate Strategy. In his new role, Faisal will spearhead Mashreq's ESG and corporate strategy, aligning business objectives with long-term sustainable growth and best practices across key ESG metrics. In his 29 years of experience, Faisal has held senior positions in the government sector such as the Ministry of Interior, where he led digital transformation and AI efforts, managed governance and risk, and served as Chief Information Security Officer, as well as senior roles at Abu Dhabi Police. He previously served as Senior Vice President - Head of Risk Strategy and Governance at Mashreq. In his new role, Faisal's focus will be on helping Mashreq to meet and exceed the bank's sustainability objectives and further align Mashreq's ESG profile with the global climate action efforts. In addition, Faisal will focus on advancing outreach on ESG, developing strategic programs aligned with the bank's overall strategic plan, while also fostering expertise within this function. Faisal holds two master's degrees, four graduate diplomas, and a Gold Commander diploma from the Emergency Planning College (EPC), UK, complemented by a strong background in government excellence, leadership, and child protection. Price Target Changed • Aug 08
Price target increased by 7.8% to د.إ173 Up from د.إ160, the current price target is an average from 2 analysts. New target price is 12% above last closing price of د.إ154. Stock is up 81% over the past year. The company is forecast to post earnings per share of د.إ28.64 for next year compared to د.إ18.48 last year. Reported Earnings • Jul 27
Second quarter 2023 earnings released: EPS: د.إ9.50 (vs د.إ3.95 in 2Q 2022) Second quarter 2023 results: EPS: د.إ9.50 (up from د.إ3.95 in 2Q 2022). Revenue: د.إ2.65b (up 74% from 2Q 2022). Net income: د.إ1.91b (up 140% from 2Q 2022). Profit margin: 72% (up from 52% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Banks industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Board Change • May 17
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Rashed Saif Al Jarwan Al Shamsi was the last independent director to join the board, commencing their role in 2013. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • May 06
Consensus revenue estimates increase by 16% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from د.إ8.38b to د.إ9.70b. EPS estimate unchanged from د.إ16.54 at last update. Banks industry in United Arab Emirates expected to see average net income growth of 0.7% next year. Consensus price target of د.إ153 unchanged from last update. Share price was steady at د.إ120 over the past week. Reported Earnings • Apr 29
First quarter 2023 earnings released: EPS: د.إ8.03 (vs د.إ3.02 in 1Q 2022) First quarter 2023 results: EPS: د.إ8.03 (up from د.إ3.02 in 1Q 2022). Revenue: د.إ2.42b (up 85% from 1Q 2022). Net income: د.إ1.61b (up 166% from 1Q 2022). Profit margin: 66% (up from 46% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Banks industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 28
Price target increased by 17% to د.إ140 Up from د.إ120, the current price target is an average from 2 analysts. New target price is 21% above last closing price of د.إ116. Stock is up 47% over the past year. The company is forecast to post earnings per share of د.إ16.54 for next year compared to د.إ18.48 last year. Board Change • Mar 28
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Rashed Saif Al Jarwan Al Shamsi was the last independent director to join the board, commencing their role in 2013. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to د.إ118, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Banks industry in United Arab Emirates. Total returns to shareholders of 104% over the past three years. Reported Earnings • Feb 01
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: د.إ18.48 (up from د.إ5.00 in FY 2021). Revenue: د.إ7.00b (up 87% from FY 2021). Net income: د.إ3.71b (up 270% from FY 2021). Profit margin: 53% (up from 27% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Banks industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jan 12
Price target increased to د.إ120 Up from د.إ112, the current price target is an average from 2 analysts. New target price is 24% above last closing price of د.إ97.00. Stock is up 28% over the past year. The company is forecast to post earnings per share of د.إ16.19 for next year compared to د.إ5.00 last year. Board Change • Jan 12
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Rashed Saif Al Jarwan Al Shamsi was the last independent director to join the board, commencing their role in 2013. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Rashed Saif Al Jarwan Al Shamsi was the last independent director to join the board, commencing their role in 2013. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Nov 01
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from د.إ6.44b to د.إ7.32b. EPS estimate unchanged from د.إ13.64 at last update. Banks industry in United Arab Emirates expected to see average net income growth of 11% next year. Consensus price target up from د.إ112 to د.إ119. Share price was steady at د.إ103 over the past week. Board Change • Oct 28
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Rashed Saif Al Jarwan Al Shamsi was the last independent director to join the board, commencing their role in 2013. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Oct 18
Mashreq Appoints Hamda Al Shamali as Chief People and Intellectual Capital Officer Mashreq announced the appointment of Hamda Al Shamali in the newly created role of Chief People and Intellectual Capital Officer. In this role, Hamda will bring her significant human capital and talent development expertise to lead and grow human resources, nurture and develop Mashreq talent, and support culture and engagement enhancement programmes across the organization. She will be responsible for leading key priorities such as DEI (diversity, equity and inclusion), streamlining distributed workforce and hybrid working models, automation of EX journeys and evolvingour employees wellbeing discipline into the broader and more comprehensive organizational health approach. Hamda is a seasoned senior Emirati human resources professional with a strong track record spanning more than 20 years of accomplishments with leading local and international organizations. Prior to joining Mashreq, Hamda was the Executive Director, Human Resources at The National Health Insurance Company - Daman, overseeing all aspects of the company's Human Resources function. She also led the Business and Culture project at Daman, being a part of their global HR community which helped steer the company transform their vision, culture, technology and resources. Her experience also includes leading Nationalization and LocalTalent across multiple roles in GCC for international banks such as HSBC Bank Middle East and Barclays Plc. Hamda holds a Bachelor's degree of Applied Science in Business Administration from Higher Colleges of TechnologyDubai. Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment improved over the past week After last week's 20% share price gain to د.إ88.00, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 10x in the Banks industry in United Arab Emirates. Total returns to shareholders of 44% over the past three years. Ankündigung • Aug 24
Mashreq Appoints Al Ghurair as Group Head of Marketing & Corporate Communications Mashreq has appointed Muna Al Ghurair, as its new Group Head of Marketing & Corporate Communications. She brings over 20 years of experience in communications, marketing, sales and business development with anoutstanding track record with leading payments and financial institutions in the region. Muna brings a wealth of insights, experience and industry expertise that will be instrumental in enhancing Mashreq's reputation and reach during a time of unprecedented change for the world of banking. Throughout her career, Muna has adopted a holistic approach to developing integrated financial product branding, public relations and marketing strategies internationally and across the MEA region. At previous organizations, she set up marketing as a standalone function, leading the creation of dedicated teams for PR and communications, branding and digital marketing and events. Holding a diploma in marketing from the UAE Polytechnic University, Muna has proven expertise in brand building and leading stakeholder communication programs, especially during mergers and acquisitions. Prior to joining Mashreq she was the Group Chief Marketing Officer at Network International where she led the PR and communications strategy for Network's IPO in 2019 on the London Stock Exchange (LSE). Reported Earnings • Jul 22
Second quarter 2022 earnings released: EPS: د.إ3.95 (vs د.إ0.21 in 2Q 2021) Second quarter 2022 results: EPS: د.إ3.95 (up from د.إ0.21 in 2Q 2021). Revenue: د.إ1.52b (up 126% from 2Q 2021). Net income: د.إ793.1m (up د.إ750.7m from 2Q 2021). Profit margin: 52% (up from 6.3% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 31%, compared to a 21% growth forecast for the industry in United Arab Emirates. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Board Change • Jul 19
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Rashed Saif Al Jarwan Al Shamsi was the last independent director to join the board, commencing their role in 2013. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Jun 14
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from د.إ9.16 to د.إ11.75. Revenue forecast unchanged at د.إ6.31b. Net income forecast to grow 50% next year vs 12% growth forecast for Banks industry in United Arab Emirates. Consensus price target broadly unchanged at د.إ106. Share price rose 4.6% to د.إ80.00 over the past week. Board Change • Jun 14
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Rashed Saif Al Jarwan Al Shamsi was the last independent director to join the board, commencing their role in 2013. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Jun 03
Mashreqbank PSC Appoints Rajeev Chalisgaonkar as Its New Head of Business Banking and NEOBiz Mashreqbank PSC has appointed Rajeev Chalisgaonkar as its new Head of Business Banking and NEOBiz. Chalisgaonkar, who brings over 29 years of Corporate, SME and Retail Banking experience across Asia, Europe, the Middle East and Africa, will help define the go-to-market strategy and build on the overall delivery and experience for Business Banking customers.He will closely work with other business segments to capitalise on growth opportunities as well as help drive a strong value proposition through cross sell and strategic partnerships to further strengthen the Mashreq SME ecosystems and in turn enhance the offering for SME customers. Thought leaderWidely acknowledged as a thought leader in the SME banking and fintech industry, Chalisgaonkar has extensive experience in the digital transformation of business lending, development of new lending models based on alternative data, and forging partnerships with large data-driven entities for business expansion. Chalisgaonkar is a metallurgical engineer and holds an MBA from IIM Calcutta. Reported Earnings • May 01
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: د.إ3.02 (up from د.إ0.21 in 1Q 2021). Revenue: د.إ1.31b (up 88% from 1Q 2021). Net income: د.إ606.1m (up د.إ563.1m from 1Q 2021). Profit margin: 46% (up from 6.2% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) also surpassed analyst estimates by 498%. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Rashed Saif Al Jarwan Al Shamsi was the last independent director to join the board, commencing their role in 2013. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 05
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Rashed Saif Al Jarwan Al Shamsi was the last independent director to join the board, commencing their role in 2013. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Apr 03
Mashreq Bank Appoints Alexander Raiff as New Group Head of Technology, Transformation and Information Mashreq Bank has appointed Alexander Raiff as its new Group Head of Technology, Transformation and Information, starting on April 1, 2022. Alexander is a seasoned technology professional with over 30 years of experience; noteworthy is his role as Chief Information Officer in Abu Dhabi Commercial Bank from 2012 to 2020. More recently, he has been an Advisor & Angel Investor for Digital Banking, FinTech/RegTech & Crypto Asset Platforms. Alexander was also associated with Daimler Financial Services and Mercedes Benz from 2003 to 2012 as CIO across their Offices in Europe, China and Japan. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorated over the past week After last week's 18% share price decline to د.إ62.10, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 12x in the Banks industry in United Arab Emirates. Total loss to shareholders of 2.2% over the past three years. Board Change • Feb 28
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Rashed Saif Al Jarwan Al Shamsi was the last independent director to join the board, commencing their role in 2013. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Feb 25
Mashreqbank Reportedly Exploring Sale of Its Payments Business Mashreqbank PSC (DFM:MASQ) is exploring a sale of its payments business in a deal that could value the division at around $500 million, according to people familiar with the matter, the latest lender in the United Arab Emirates to consider pulling back from the sector. The bank is working with Goldman Sachs Group Inc. to sound out potential buyers for the unit, which handles the processing of transactions made with credit and debit cards, the people said, asking not to be named because the information is private. Deliberations are ongoing and no final decision has yet been taken, according to the people. Representatives for Mashreq and Goldman Sachs declined to comment. Board Change • Feb 08
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Rashed Saif Al Jarwan Al Shamsi was the last independent director to join the board, commencing their role in 2013. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Jan 05
Price target increased to د.إ89.54 Up from د.إ71.28, the current price target is provided by 1 analyst. New target price is 18% above last closing price of د.إ76.00. Stock is up 23% over the past year. The company is forecast to post earnings per share of د.إ0.93 next year compared to a net loss per share of د.إ6.37 last year. Board Change • Jan 05
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 5 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Rashed Saif Al Jarwan Al Shamsi was the last independent director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Dec 09
Price target increased to د.إ84.82 Up from د.إ71.28, the current price target is provided by 1 analyst. New target price is 6.7% above last closing price of د.إ79.50. Stock is up 32% over the past year. The company is forecast to post earnings per share of د.إ0.93 next year compared to a net loss per share of د.إ6.37 last year. Board Change • Dec 09
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 5 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Rashed Saif Al Jarwan Al Shamsi was the last independent director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS د.إ1.01 (vs د.إ1.03 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: د.إ889.6m (up 87% from 3Q 2020). Net income: د.إ179.7m (up د.إ362.8m from 3Q 2020). Profit margin: 20% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Board Change • Nov 10
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Vice Chairman of the Board Ali Rashid Lootah was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 14
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Vice Chairman of the Board Ali Rashid Lootah was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 29
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Vice Chairman of the Board Ali Rashid Lootah was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 01
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Vice Chairman of the Board Ali Rashid Lootah was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Aug 02
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 7 experienced directors. 2 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Vice Chairman of the Board Ali Rashid Lootah was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Jul 16
Second quarter 2021 earnings released: EPS د.إ0.24 (vs د.إ0.47 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: د.إ675.2m (down 8.5% from 2Q 2020). Net income: د.إ42.4m (down 50% from 2Q 2020). Profit margin: 6.3% (down from 12% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 15
Full year 2020 earnings released: د.إ7.20 loss per share (vs د.إ11.63 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: د.إ1.82b (down 62% from FY 2019). Net loss: د.إ1.28b (down 162% from profit in FY 2019). Non-performing loans: 5.95% (up from 4.33% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Feb 15
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 0.3%. Earnings per share (EPS) missed analyst estimates. Over the next year, revenue is forecast to grow 171%, compared to a 41% growth forecast for the Banks industry in United Arab Emirates. Reported Earnings • Nov 11
Third quarter 2020 earnings released: د.إ1.03 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: د.إ475.7m (down 61% from 3Q 2019). Net loss: د.إ183.1m (down 134% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Ankündigung • Oct 08
Mashreq Appoints Scott Ramsay as New Group Head of Compliance & Bank Money Laundering Reporting Officer Mashreq has appointed Scott Ramsay as its new Group Head of Compliance & Bank money laundering reporting officer (MLRO). In this role as a part of the senior leadership team, Scott will be responsible for establishing and maintaining a robust enterprise-wide compliance programme for the bank by evaluating and improving the effectiveness of internal controls and governance processes to ensure that the bank adheres to all regulatory guidelines across all markets. He will also provide support to operational teams in the development and implementation of regulatory policies across the bank.Ramsay joined Mashreq in June 2020 as the head of international banking compliance. He will continue to perform his responsibilities in both the roles until a suitable successor is announced for the position of the head of international banking compliance in due course. He brings with him more than 15 years of banking and senior management experience, with an extensive background in areas of compliance, financial crimes, and anti-money laundering amongst others. Prior to joining Mashreq, he served in senior compliance positions with HSBC in Hong Kong and the UAE. Before HSBC, he also worked as the Global Head of Sanctions Compliance and later as the Head of Legal and Compliance, Global Markets at the National Bank of Abu Dhabi.