The National Investor’s take on Mashreq Bank

Mashreq Bank is one of the oldest and largest private banks in the UAE. The bank has seven revenue generating business lines, the main contributors being retail and corporate, which collectively accounted for 62% of the total revenue in 2007. Originally established as Bank of Oman in 1967 in Dubai, it is 87% owned by the Al Gurair family with the remaining 13% free floating. Currently, the bank’s seven subsidiaries deal in Islamic and conventional financing, brokerage, insurance and investment services. The bank provides retail, commercial, treasury and capital markets, besides other support divisions such as credit risk management, risk review and corporate affairs. The diverse range of products and services offered include credit cards, consumer lending, trade finance, project finance, electronic funds transfer at points-of-sales, automated teller machines, call center, treasury, correspondent banking, online banking and GSM banking. Business segments Mashreq’s corporate banking division has been delivering exceptional growth