ArabianBusiness.com - Middle East Business News
Monday, 23 September 2019 14:24 UAE time

YOUR DIRECTORY /

Mashreq

Main Category: Commercial Bank
First Address : PO Box 1250
City : Dubai
Country : United Arab Emirates
Phone: 971 4 2223333
Fax: 971 4 2226061
Website: www.mashreqbank.com


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ALL STORIES LIST


Mashreq bank's retail NPLs peaked in 2010, exec says

Retail banking sector to remain difficult in 2011, bank to focus on retaining existing customers 

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First loan secured under Dubai gov't real estate plan

Al Manal Development gets AED65m loan from Mashreq as part of Tayseer funding scheme

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Mashreq to seek higher interest on Dubai World debt

Foreign lenders would prefer government guarantee and lower interest rates option.

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Gulf banks miss out on Libya, still eye entry

Mashreq, Emirates NBD and Qatar Islamic Bank had been shortlisted for a licence.

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Dubai's Mashreq Q2 profit falls on higher provisions

Q2 profit falls 54 percent year on year; CEO optimistic on economy recovery.

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Mashreq sees big fall in credit card defaults in 2010

Bank official says improvement dependant on no more bad news on gov't debt.

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Mashreq 'confident' over mortgage rate court case

Dubai bank prepares to defend position in court as 26 customers take action.

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Mashreq expands debt help service to Abu Dhabi

Mashreq Assist counselling service launches in UAE capital after Dubai success.

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Dubai's Mashreq Q1 falls 48% on loans and provisions

Bank made $571.7m in provisions in 2009 and posted a loss in Q4 that year.

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Dubai bank Mashreq to raise bond plan to $5bn

Bank to seek shareholders' nod for the bond plan at an EGAM on March 7.

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Dubai's Mashreq posts $33m Q4 net loss

Dubai's largest lender by market value makes AED2.1bn ($572m) impairment allowances in 2009.

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Revealed: the full cost of a UAE mortgage

Research shows homebuyers will owe more than AED4m on AED2m mortgage.

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Mashreq customers seek talks with UAE cenbank

Group of 64 customers claim bank is in wrong after changing interest rate calculations.

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2,800 customers seek help from Mashreq to pay loans

Bank says it is planning to extend Mashreq Assist service to Abu Dhabi customers.

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Mashreq expands operations to Kuwait

UAE bank's arrival in Kuwait City part of growth plan, MENA branches now total 94 - CEO.

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Mashreq's Q3 net profit falls by 42%

UPDATE 1: Dubai's second largest bank by market cap says decline due to rise in loan provisions.

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Mashreq sees 'unprecedented' credit card skips

Bank sees rise in number of customers leaving UAE without paying off debts.

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Mashreq signs deal for new salary payment card

Agreement inked with C3 Card to provide low wage customers with salary solutions.

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'No concern' over UAE banks' exposure to Saad, Algosaibi

Mashreq chief says banks have capital strength to cover exposure to firms.

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Mashreq makes move into Kuwaiti banking sector

UAE bank becomes seventh non-national bank to start ops in Kuwait.

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Mashreq installs Dubai Metro ATMs, plans expansion

UAE bank says more than 2,000 transactions made by metro passengers in 3 days.

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Mashreq launches UAE's first debt counselling service

UAE's third largest bank makes move to help struggling loan customers.

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Mashreq: Algosaibi claim attempt to avoid liability

UAE bank dismisses counter claim of Saudi family firm amid $150m lawsuit.

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UAE cbank rejigs interbank rate panel to spur lending

Central bank hopes change in panel will lower rates and spur lending.

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Mashreq opens 16 new branches in Abu Dhabi

Strategic growth plans remain very much on track, says the bank's CEO.

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Mashreq Bank issues security wallets from CRYPTOCard

Mashreq Bank has just rolled out a new online security system from CRYPTOCard

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Moody's places ratings of 4 Dubai banks on review

Possible downgrade reflects challenges posed by stressed UAE property market.

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Saudi Saad's sukuk investors mull setting up committee

Investors in troubled conglomerate look for representation at creditor meetings.

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S&P downgrades 4 Dubai banks

Agency says actions taken due to difficult financing environment and expected asset quality deterioration.

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Mashreq exposure to Saad and Al Gosaibi Groups 'manageable'

Ratings agency Fitch cites bank's current level of profitability and capitalisation.

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Dubai's Mashreq says Saudi exposure 'not significant'

Mashreq takes action to protect interests due of problems with Saudi clients.

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Dubai bank CEO says time ripe for buyouts

Mashreq bank head says good time for acquisitions as UAE may have passed through worst of global crisis.

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Wealth management and private banking at Mashreq

Akram Khattab, head of Private Banking at UAE-based Mashreq tells CEO Middle East how the bank zeroes in on the region's high net worth individuals.

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Mashreq posts 4% profit growth, sees assets fall by $735m

Net profit hits AED484 for Q1 2009, compared with AED465m for Q1 2008.

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Blame it on the bankers

Mashreq chief Abdul Aziz Al Ghurair argues that the US & European banks are to blame for their own downfall.

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Mashreq boss condemns West's bonus schemes

Abdul Aziz Al Ghurair, says bank bonus schemes in West have got out of hand. 

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Chinese cards to work in Mashreq ATMs under new deal

More than 1.8bn cards from China Union Pay can now be used at Mashreq ATMs. 

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Mashreq Capital plans sukuk fund

Dubai-based firm to exploit sukuk offering high returns as Islamic bond market attracts greater interest.

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Mashreq Bank launches Egypt operation

Dubai-based Mashreq rolls-out 10 branch retail operation after spending $99.4m.

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Emirates Islamic Bank to convert deposits into capital

Bank is fourth in UAE to convert federal gov't deposits into Tier 2 capital.  

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Dubai's Mashreq to convert state deposits to capital

Dubai-based bank follows similar moves by other UAE lenders to improve asset quality.

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Qatar index falls to new 5-year low

Industries Qatar leads stock market to new 5-year low amid gloomier prognosis for global economy.

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Experts back Dubai's $20bn bond programme

Bank chiefs say move will do much to boost confidence in emirate's financial sector.

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Mashreqbank reports 13% profit fall for 2008

The bank says liquidity and capital markets will be its priorities for 2009.

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Mashreq axes 175 employees amid slowdown

UAE's largest private bank says it regrets move, blamed on depressed market.

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Bank chief urges action to boost UAE lending

Mashreq's chairman says gov't should inject more cash into financial sector.

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Reasons to be cheerful

Arabian Business examines why the Mideast should be well on the path to recovery by end of 2009.

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Corporate bonds among best 2009 investments

Mashreq Capital chief talks about top opportunities in 2009 amid global crisis.

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Is bigger better for banks?

As UAE banks begin to feel the bite of the global credit crisis, consolidation could finally be on the cards.

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Technology enters a new age

ICT is now being used to improve service and revenues.

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Mashreq opts for Postilion

Mashreq has replaced its existing payment switch infrastructure with Postilion solutions.

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Mashreq holds off from new acquisitions

UPDATE 1: Dubai bank stays cautious during global crisis but still expects to grow profit by 12%.

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Mashreq launches mobile banking

Mashreq Bank launches region's richest mobile banking solution

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Mashreq open to merger - CEO

UPDATE 1: But Al-Ghurair says decision must be driven by economic rationale and not politics.

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Mashreq sees profit drop 13%

UAE's fourth largest lender posts net income of $94.2mn as value of regional share prices plunge.

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Al Ghurair wins Lifetime Achievement Award

Mashreq boss honoured along with other top company chiefs at CEO Middle East Awards.

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Markets in meltdown

Gulf economies have been hit by the US financial crisis fallout and more bad news could be on the way.

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Investing in turmoil

Regional stock exchanges have had a tumultuous year making it difficult for investors to find value.

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Mashreq Capital CEO disappointed by DIFC role

More promotion of DIFC, DFSA benefits required to encourage investors.

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The need to diversify

When I moved to this region in 2006 I was surprised at the lack of diversification in the investment portfolios of most of the clients I met. Aside from a few institutions, most focused purely on bank deposits, private equity or the regional equity markets.

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Mashreq still keen on Banque du Caire purchase

Dubai bank interested in Egyptian lender despite rejection of initial offer, cancelled sale.

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Barwa secures $190mn loan, eyes sukuk

Qatari developer to use money to fund investments and projects, exec says.

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Don't forget about bonds

Arabian Busines on the lack of diversification in the investment portfolios of most clients.

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Future Pipe to borrow $150mn after shelving IPO

Dubai fibreglass pipe maker looking to refinance debt, in talks with HSBC, Mashreq.

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A symbiotic relationship

While the global economic canvas currently looks faded and jaded, the UAE economy is merrily marching along.

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Mashreq arranges AED3 bn du loan

UAE telecoms provider to invest in network infrastructure.

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Sukuk structures set for shake-up

Arrangers need innovative Shariah financing models.

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Nine banks arranging $5bn Dubai World loan

Deutsche Bank, Emirates Bank, HSBC, Lloyds TSB and Mashreq Bank among lenders.

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No revaluation, depegging before year-end

Gulf central banks will not shift monetary policy despite inflation, Mashreq exec says.

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Gulf fortunes tied to global markets

More foreign funds in GCC contributing to higher volatility in local markets, Mashreq Capital chief says.

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Dubai's $4bn bond to spark boom in local market

Firms set to follow suit and raise funds through dirham-based debt - Mashreq Capital CEO.

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Noor Financial eyes bid for Banque du Caire

Commercial Bank of Kuwait interested in Egypt's third-largest state bank.

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Pressure on Gulf to depeg set to ease

Resurgent dollar will ease calls on Gulf Arab states to cut ties with US currency, says Mashreq exec.

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Gulf investors bargain hunting in troubled US economy

WEF: US the best place to be at time of global slowdown, wealth fund managers say.

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New lease of life for the DIFX?

The huge DP World listing seems to have kickstarted the DIFX, but greater depth and variety is still needed.

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Mashreq plans massive push into Egypt

UAE lender to open 30 branches in Egypt over next three years, CEO Al-Ghurair says.

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Sharia success

Islamic products are big business with local and international banks keen to get onboard.

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Mashreq’s funds first class

Mashreqbank's Makaseb Arab Tigers Fund has been awarded an AA, very high quality, rating by the independent credit ratings agency Standard and Poor's.

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Skills poaching prompted by rebar futures contract

Brokers and banks attempting to lure trading experts from UAE steel firms.

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Dual control

Traditionally, there are two types of CIOs - those who come from business to IT, or those who come from IT to business. But what companies are really looking for is a CIO who is adept at both, a hybrid of IT and business acumen. ACN asks today's CIOs how they use both skills to climb the corporate ladder.

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Mashreq may swoop for Egypt lender

UAE bank considering bid for state-owned Banque du Caire as part of plans to expand in country.

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Hitting the headlines

New Escrow law aims to sustain Dubai's property boom, take financial risk out of buying off-plan property.

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Escrow account law unnecessary, says Hiranandani

The managing director of Hircon International, Darshan Hiranandani has criticised the newly introduced escrow account law, describing it as an unnecessary extra cost.

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NBF agrees Al Hokair loan

US$55m finance to develop health chain.

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Arab Tigers burn bright

Imran Ahmed, managing director, asset management, Mashreq, talks about the Makaseb Arab Tigers Fund.

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Know your customer

Region's banks have realised customer information can be a vital revenue-spinning opportunity for them.

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Money clinic

Every month we provide a step-by-step guide to a different financial product. In this month's Money Clinic - we examine personal loans.

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Land Department defends escrow accounts

The Dubai Land Department has defended escrow accounts amid rumours of "grey areas" for developers registered as offshore.

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Mashreq raises $500mn loan

Mashreq bank successfully raises $500mn from international bank syndicate, despite credit market slump.

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WINDOWS investigates: UAE internet banking

If you're looking to set-up an online bank account in the UAE, read on as the WINDOWS team checks out some of the market's current offerings and suggests which of these you can bank on.

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Banks get on escrow bandwagon

Three leading banks launch escrow accounts following amendments to Dubai's property law.

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Space invaders

While online banking has made life easier, it has also exposed customers to the menace of cyber crime.

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Breaking the brokers

New requirements for securities brokerage firms are triggering mergers, closures and questionable trading methods.

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Candidates for consolidation

The region's banking sector is facing up to the biggest shake-up it has ever witnessed during its tender 50-year history.

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Banking in the GCC

Will the banking industry be the next sector to feel the wind of change sweeping through the Gulf?

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Abdul Aziz Al Ghurair: A brand new challenge

For Mashreq CEO Abdul Aziz Al Ghurair, the bank’s recent rebranding is just the first of many bold initiatives.

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US$125m Russia loan

Mashreq, Emirates Bank and Fortis Bank have arranged a US$125m syndicated loan facility for one of Russia's leading private sector banks, JSCB Promsvyazbank.

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A new dawn

Banks are rapidly expanding their Islamic banking portfolios as sharia-compliance gains worldwide recognition.

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Mashreqbank to branch out in Egypt

The Dubai lender has won approval to open Egypt branches; denies Alwatany takeover reports.

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Mashreqbank denies Alwatany bid speculation

Dubai lender says it is not considering bidding for Egypt's Alwatany Bank.

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Mashreqbank, NBK compete for Egypt stake

The two GCC banks are part of five lenders vying for a share of Egypt's Alwatany.

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Banking on a brand new start

Each week Arabian Business turns the spotlight on a leading company.

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Brand builder

Hermann Behrens has made Enterprise IG one of the world's top branding consultants. Tamara Walid reports.

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Mashreqbank on course for 30% profit growth

Dubai's third-largest lender says it is 'not to be distracted by IPOs'.

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Game over?

Writing a cheque that bounces can have serious repercussions in the UAE. Diana Milne reports on what happens to those who get caught.

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Dubai's Mashreqbank Q1 profit rises

Net income in the three months to March 31 rose 30% to $121.2m.

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Finance for Burj interiors agreed

Depa Interiors has signed a $117m finance deal for work at the world's tallest tower.

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Revealed: Gulf's most admired companies

Arabian Business has published its '50 Most Admired' list of regional companies.

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Borrowed time

Why the West's debt nightmare could be heading here.

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Borrowers beware

Personal loans can provide a quick fix in times of need, but if you don't read the small print you could find yourself paying more than you ever bargained for.

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Mashreqbank eyes Mideast acquisitions

The UAE lender is looking to expand its operations in Arab countries.

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First bank account for Emirati students

Mashreqbank is ‘investing in today’s youth’ as it announces bank accounts for emirati students.

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Arabic press review 22/01/07 – Business news seen through local eyes

Some welcome news in today's Al Ittihad newspaper: it is revealed that the Dubai Metro could extend to Ajman emirate.

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Banking on security solutions

Online security threats remain a major problem for large enterprises and their customers in the Middle East. With multi pronged attacks growing in frequency and sophistication, Sherief Younis discovers what is being done in the Middle East to ensure a secure online environment for customers.

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Phishing attacks now homegrown

Arabic speakers being used to target region, experts warn

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Mashreq Capital

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Mind over matter

Alistair Sinclair, CIO of Mashreqbank and CEO of Mindscape, has to balance his role maintaining and planning the bank’s systems with his other job providing managed services for other organisations. He tells Daniel Stanton how he manages these different environments and uses IT to drive Mashreqbank forward.

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Autofinance: Clear cut deal?

The UAE’s “auto ownership mania” has made the country a prime international market for carmakers – a business opportunity which has not escaped the local retail bankers. With a plethora of auto financing packages currently available in the marketplace, are car buyers getting a good deal?

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Mind over matter

Alistair Sinclair, CIO of Mashreqbank and CEO of Mindscape, has to balance his role maintaining and planning the bank's systems with his other job providing managed services for other organisations. He tells Daniel Stanton how he manages these different environments and uses IT to drive Mashreqbank forward.

read more »

Keeping your identity

Systems security used to be about keeping the bad guys out, but as threats have evolved identity management and authentication have emerged as key to successful policing

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Mashreq Opens VIP Stock Trading Lounge

Opening in Abu Dhabi is set to be first of several initiatives in the brokerage space

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Al Ghurair to chair Arab Business Angels Network

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