Mashreqbank PSC Full Year 2024 Earnings: Beats Expectations

Mashreqbank PSC (DFM:MASQ) Full Year 2024 Results

Key Financial Results

• Revenue: د.إ13.6b (up 12% from FY 2023).
• Net income: د.إ8.92b (up 3.8% from FY 2023).
• Profit margin: 66% (down from 71% in FY 2023). The decrease in margin was driven by higher expenses.
• EPS: د.إ44.45 (up from د.إ42.82 in FY 2023).

MASQ Banking Performance Indicators

• Non-performing loans: 1.69% (no change from 1.69% in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Mashreqbank PSC Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 6.1%. Earnings per share (EPS) also surpassed analyst estimates by 38%.

The primary driver behind last 12 months revenue was the Wholesale Banking segment contributing a total revenue of د.إ4.78b (35% of total revenue). The largest operating expense was General & Administrative costs, amounting to د.إ3.57b (77% of total expenses). Explore how MASQ's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Banks industry in United Arab Emirates.

Performance of the Emirian Banks industry.

The company's shares are up 6.6% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 2 warning signs for Mashreqbank PSC you should be aware of, and 1 of them is a bit concerning.

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