Mashreq

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Recent Articles

• Mashreq expands operations to Kuwait2 November 2009

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

• Mashreq's Q3 net profit falls by 42%29 October 2009

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

• Mashreq sees 'unprecedented' credit card skips 27 October 2009

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

• Mashreq signs deal for new salary payment card18 October 2009

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

• Mashreqbank files UAE court case against Algosaibi12 October 2009

  Dubai-based bank wants to claim $398m owed by the troubled Saudi group.

• Mashreqbank’s US lawsuit based on forgery - Algosaibi3 October 2009

  Saudi group says Dubai bank's suit in US over $200m in forex deals should be thrown out.

• 'No concern' over UAE banks' exposure to Saad, Algosaibi29 September 2009

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

• Deutsche Bank, Algosaibi unit battle it out in NY court23 September 2009

  Allegation that foreign exchange swap not completed, judge set to rule by Dec. 9.

• Mashreq makes move into Kuwaiti banking sector16 September 2009

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

• Mashreq installs Dubai Metro ATMs, plans expansion14 September 2009

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

• Mashreq launches UAE's first debt counselling service2 September 2009

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

• Mashreq: Algosaibi claim attempt to avoid liability27 August 2009

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

• UAE cbank rejigs interbank rate panel to spur lending26 August 2009

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

• Saudi Algosaibi sues Mashreq in US over Saad deals24 August 2009

  Dubai bank alleged to be ''wilfully blind'' to deals that helped lead Algosaibi into default.

• Mashreq opens 16 new branches in Abu Dhabi24 August 2009

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

• Mashreq Bank issues security wallets from CRYPTOCard16 August 2009

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

• Moody's places ratings of 4 Dubai banks on review 10 August 2009

  Possible downgrade reflects challenges posed by stressed UAE property market.

• Saudi Saad's sukuk investors mull setting up committee14 July 2009

  Investors in troubled conglomerate look for representation at creditor meetings.

• S&P downgrades 4 Dubai banks7 July 2009

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

• Mashreq exposure to Saad and Al Gosaibi Groups 'manageable'6 July 2009

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

• Dubai's Mashreq says Saudi exposure 'not significant'20 June 2009

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

• Dubai bank CEO says time ripe for buyouts16 May 2009

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

• Mashreq posts 4% profit growth, sees assets fall by $735m10 May 2009

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

• Mashreq boss condemns West's bonus schemes23 April 2009

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

• Chinese cards to work in Mashreq ATMs under new deal19 April 2009

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