#Mashreq
The deal will see Mashreq retain a minority stake in NeoPay, a payment solutions provider that offers a range of services, including point-of-sale terminals
With the backing of two of the GCC’s leading banks, LoanBook is well-positioned to continue its mission of modernising the syndicated loan market
The group head of Corporate & Investment Banking at Mashreq says that incumbents now view fintechs as partners rather than competitors
Neopay, originally established as a strategic division within Mashreq, has expanded rapidly, becoming a key player in the UAE’s digital payments sector
The service will enable Mashreq’s retail customers to make peer-to-peer global payments in select markets across Asia, Europe and the Americas
The transaction achieved the largest price tightening by any UAE bank in the last five years for an additional tier 1 transaction
The launch of the new account falls under the bank’s Climb2Change global initiative and aims to safeguard wildlife and biodiversity
The bank’s commitment to sustainable finance is part of its Climb2Change global initiative
The increase in operating income and net profit was primarily attributed to a significant 82 per cent increase in net interest income
The banking sector is playing a crucial role in combating climate change by providing green financing and supporting climate initiatives
The UAE banks invested in various projects in renewable energy, waste-to-energy, and green technology in 2022
In the early years of the digital era, building was the only option, but today the region is strewn with fintechs
The bank is committed to developing financial solutions that help businesses scale up operations while achieving their ESG objectives
The lender aims to invest in the country’s rural infrastructure, including microfinance institutions
The bank’s operating income increased by 24.3 per cent over the previous year to Dhs5.3bn
The account provides customers competitive interest rates on their savings, cashback on all spends and a free noon VIP membership among other features
Deliberations are ongoing and no final decision has yet been taken
The new proposition will enable information transparency and empower Mashreq’s customers to make an informed choice while buying insurance products
The bank’s operating profit for nine months of the year rose by 14.3 per cent to Dhs2.4bn
The platform is expected to help Mashreq respond more efficiently to the funding needs of local businesses and address capital diversification too
The relocation plan is expected to be completed in three phases by October this year
The awards acknowledged champions from across the region’s business spectrum
It has signed an agreement with Dubai-headquartered Mashreq Bank as part of the new deal
Although the Covid-19 situation is straining financial institutions, banks have a major role to play in keeping economies buoyant during the current crisis and beyond
The highest ranking entries from the world of finance in Gulf Business’ annual Arab power list 2020
