Mashreq Bank inaugurates office in Turkey to expand global presence
The UAE-based lender has an effective role in channeling risk capacity and capital flows to Turkish banks and corporates, according to a press release.
Mashreq is also a leading bookrunner on key bond transactions by Turkish borrowers, including capital issuances for prominent Turkish banks.
This also aligns with the bank's growth strategy to expand its local as well as global presence.
Ahmed Abdelaal, Group CEO at Mashreq, said: "This strategic milestone strengthens our ability to support clients in Türkiye and the broader region with world-class financial solutions, while advancing our vision for sustainable and diversified growth."
Joel Van Dusen, Group Head of Corporate and Investment Banking at Mashreq, said: "Leveraging Mashreq's digital-first infrastructure and global expertise, we are well-positioned to facilitate cross-border trade, enhance capital access, and contribute meaningfully to Türkiye's financial ecosystem."
It is worth highlighting that the bilateral trade volumes between the UAE and Turkey exceeded $20 billion in 2024.
In the first quarter (Q1) of 2025, Mashreq Bank generated net profits after tax valued at AED 1.79 billion, an annual drop of 12% from AED 2.04 billion.
All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Business
an hour ago
- Arabian Business
Dubai property sales hit $14bn in July as off-plan demand and rents surge, top developers revealed
Dubai's residential real estate market continued its upward trajectory in July 2025, with Betterhomes reporting strong growth in both sales and leasing, driven by robust off-plan demand and an influx of new tenants. Drawing on data from Property Monitor and its own transactions, the firm highlighted significant month-on-month gains in volumes, values, and rental activity. Average price per square foot: AED1,893 ($516), up 3.3 per cent from June Total transactions: 18,816, up 20.5 per cent month-on-month Total sales value: AED51.3bn ($13.96bn), a 10.6 per cent increase Off-plan sales: 65 per cent of transactions, up from 62 per cent in June The top-performing villa communities in the month were The Wilds, Grand Polo Club & Resort and The Oasis. Meanwhile, the top-performing apartment communities were Jumeirah Village Circle, Business Bay and Damac Riverside. Average Dubai Land Department sale prices July 2025 Apartments: AED1.99m ($541,500) Townhouses: AED3.25m ($884,200) Villas: AED9.7m ($2.64m) Betterhomes' own portfolio showed higher average apartment prices at AED2.33m ($633,800) but lower villa prices at AED6.1m ($1.66m). Christopher Cina, Director of Sales at Betterhomes, said: 'The continued strength of Dubai's off-plan sector shows enduring confidence in the city's long-term growth. We're seeing demand from both seasoned investors and first-time buyers eager to secure properties before completion'. Top 5 off-plan developers by sales value Sobha Realty: AED2.7bn ($735.6m) Emaar: AED2.6bn ($708.4m) Binghatti: AED1.7bn ($463.1m) Damac: AED1.6bn ($435.6m) H&H: AED1.5bn ($408.8m) Top 5 title deed developers by sales value Emaar: AED5.9bn ($1.61bn) Aldar: AED4.6bn ($1.25bn) Damac: AED2.5bn ($680.6m) Nakheel: AED1.7bn ($463.1m) Sobha Realty: AED1.5bn ($408.8m) Renting in Dubai Leasing activity also strengthened in July, with Dubai residential market recording 39,251 rental transactions, a 3.4per cent month-on-month rise. New contracts made up 40 per cent of these deals, up from 37 per cent in June, indicating an influx of fresh tenants into the market Al Khail Heights registered the highest apartment rental growth at 1.5 per cent month-on-month, reaching an average of AED67,500 ($18,400) annually, while Jumeirah led villa rental growth with a 4.2 percent increase to AED498,000 ($135,600) per year. Across Dubai, average rents by property type were: Apartments: AED72,000 ($19,600) Townhouses: AED172,000 ($46,800) Villas: AED255,000 ($69,500) Betterhomes recorded a 10 per cent month-on-month increase in tenant leads in July, reflecting continued demand across its rental portfolio. Average leasing prices within the company's transactions stood at AED141,000 ($38,300) for apartments, AED190,000 ($51,700) for townhouses, and AED368,000 ($100,200) for villas. Dubai real estate outlook 2025 Betterhomes says the combination of rising sales volumes, strong off-plan absorption, and robust rental demand reaffirms Dubai's standing as a leading global property hub. With investor confidence high and fresh tenant inflows accelerating, the company expects momentum to carry through the remainder of 2025.
Arabian Business
an hour ago
- Arabian Business
Emirates NBD's zero-fee trading hits $1.4bn in first year
Emirates NBD is celebrating one year since the launch of its zero-transaction-fee trading initiative for UAE-listed equities on its award-winning ENBD X digital wealth platform — a move that has boosted market participation and broadened access to local investments. Since its debut on 26 August 2024, the initiative has delivered impressive results: More than 300,000 commission-free trades executed on the Dubai Financial Market (DFM), Abu Dhabi Securities Exchange (ADX), and Nasdaq Dubai AED5bn ($1.36bn) in total trade volume Access to more than 150 UAE-listed equities via the ENBD X app Emirates NBD trading The zero-fee model has attracted a growing base of first-time investors, young professionals, and everyday savers, helping democratise wealth creation and align with the UAE's 'We the UAE 2031' strategy to deepen capital market development and enhance financial inclusion. ENBD X integrates banking, investment, and advisory services into one seamless digital experience, offering real-time trading, instant onboarding, and customisable price alerts for timely market decisions. Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, said: 'We are pleased to see an outstanding response to the zero-transaction-fee trading initiative that we launched on our digital wealth platforms, accessible via ENBD X. 'One year on, our customers have embraced purposeful investment by investing in local equities. As a leading national bank, we are proud to transform how people invest, by providing an inclusive, accessible, transparent and affordable platform, while also supporting local businesses. 'This has contributed profoundly to the long-term growth of the UAE economy in line with the vision of our wise leadership.' The initiative follows Emirates NBD's earlier launch of fractional bonds on ENBD X, underscoring the bank's commitment to innovation and broadening access to financial markets. By removing barriers to entry, Emirates NBD is positioning ENBD X as a gateway to the UAE's financial future, driving both personal wealth creation and national economic growth.
Arabian Business
an hour ago
- Arabian Business
Sharjah approves 700 new government jobs and $8.3m in promotions and pay rises
Sharjah has announced a major employment and promotions initiative that will see 700 Emirati citizens hired in the emirate's government by the end of 2025. In addition, 1,523 government employees will receive promotions, which include both job advancements and special financial awards. These promotions will cost the government AED22m ($6m) annually. Sharjah pay rises Sheikh Dr Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharhah also approved status adjustments for 254 employees who have earned new academic qualifications, including: PhDs Master's degrees Bachelor's degrees These adjustments, which will take effect retroactively from the date each degree was obtained, represent an additional AED8,420,803 ($2.3m) in annual costs. The combined financial impact of the promotions and qualification-based adjustments totals more than AED30.4 million ($8.3m) per year. The initiative underscores Sharjah's commitment to supporting Emirati talent, rewarding academic achievement, and expanding opportunities within the government sector, while reinforcing the emirate's focus on long-term workforce development.
