Mashreq

Mashreq's 1Q 2024 Net Profit Climbs 25% Year-on-Year to AED 2 Billion (AED 2.3 billion up 36% pre-tax), Fueled by Strong Business Growth and Solid Margins. H.E. Abdul Aziz Al Ghurair, Chairman of Mashreq: "Mashreq, has demonstrated remarkable strength and adaptability amid global challenges, maintaining solid asset growth, financing, and capital adequacy ratios. These indicators reflect the sector’s flexibility and resilience to adapt to the changes the world is witnessing.” Ahmed Abdelaal, Group Chief Executive Officer: "Our Q1 2024 financial results have provided a robust start to the year, showcasing a significant 25% increase in net profit to AED 2.0 billion, despite the new Corporate Income Tax of 9% in the UAE. On pre-tax basis our Net Profit stood at AED 2.3 billion representing an increase of 36% like for like. This remarkable growth is fueled by substantial income expansion and reduced risk costs, highlighting our unyielding commitment to operational resilience and efficiency.” Read the full report: http://ms.spr.ly/6049YJymN #Mashreq #Q1FinancialResults2024 #FinancialMilestone #BankingExcellence #Innovation #SuccessStory

Mashreq is proud to announce it is allocating an additional AED1 billion in competitive financing to support the country’s industrial growth. His Excellency Omar Al Suwaidi, Undersecretary of MoIAT, said: “MoIAT is continually working to provide enablers and incentives that support the growth and competitiveness of the industrial sector in line with the objectives of the National Strategy for Industry and Advanced Technology.” Joel Van Dusen, Group Head of Corporate & Investment Banking at Mashreq, said: "Mashreq's allocation of an additional 1 billion dirhams to support the "Make it in the Emirates” initiative and the "Technology Transformation" program reflects our deep commitment to supporting growth and development in the UAE’s industrial sector. We are proud to be part of this ambitious initiative aimed at promoting innovation, sustainability and AI applications in the industrial sector. Our partnership with the Ministry of Industry and Advanced Technology represents an important step towards building a prosperous and sustainable future for the UAE’s industrial sector.” يفخر المشرق بالإعلان عن تخصيص 1 مليار درهم إضافية للتمويل التنافسي بهدف دعم النمو الصناعي في الدولة. أكد سعادة عمر السويدي، وكيل وزارة الصناعة والتكنولوجيا المتقدمة، أن الوزارة مستمرة في جهودها لتوفير المزيد من الممكنات والحوافز الداعمة لنمو وتنافسية القطاع الصناعي في الدولة بما يتماشى مع مستهدفات الاستراتيجية الوطنية للصناعة والتكنولوجيا المتقدمة. من جانبه قال جويل فان دوسن، رئيس مجموعة الخدمات المصرفية للشركات والاستثمار في المشرق: "إن تخصيص المشرق لمبلغ إضافي قدره 1مليار درهم لدعم مبادرة "اصنع في الإمارات" وبرنامج "التحول التكنولوجي" يعكس التزامنا العميق بدعم النمو والتطور في القطاع الصناعي بدولة الإمارات. نحن فخورون بأن نكون جزءاً من هذه المبادرة الطموحة التي تهدف إلى تعزيز الابتكار والاستدامة وتطبيقات الذكاء الاصطناعي في القطاع الصناعي. حيث أن شراكتنا مع وزارة الصناعة والتكنولوجيا المتقدمة تمثل خطوة هامة نحو بناء مستقبل مزدهر ومستدام للقطاع الصناعي في الإمارات. إذ يسهم تقديم التمويل التنافسي للشركات الصناعية في تعزيز الإنتاجية ومرونة سلاسل التوريد، ويفتح آفاقاً جديدة للاستثمار والنمو في القطاعات الاقتصادية الحي #Mashreq #TechnologyTransformation #CompetitiveFinancing #Innovation #SustainableFuture

🌿 Discover the Hidden Gems of the Hajar Mountains! Join us on 24 July 2024 for our next Notice Nature online workshop, "Nature of the Hajar Mountains". Dive into the rich biodiversity and breathtaking landscapes of this unique region. 🌱 Enhance your understanding of the diverse species 🌱 Learn about the crucial role of biodiversity 🌱 Discover the importance of conservation efforts Don't miss this chance to connect with nature and be inspired! Sign up to uncover more in our virtual workshop: http://ms.spr.ly/6043lR7TD Mashreqbank PSC is regulated by the Central Bank of the United Arab Emirates. EWS-WWF #Mashreq #RiseEveryDay #NoticeNature #Climb2Change

International Banking Group - Country Spotlight: Mashreq Bahrain Discover the cutting-edge banking solutions and global market access provided by Mashreq Bahrain, a key part of Mashreq's International Banking Group. We use Mashreq's extensive global network to link the Kingdom of Bahrain to key international trade centres, ensuring smooth and efficient global transactions. Learn more about Mashreq Bahrain: https://lnkd.in/dpkgghUj Ahmed Dayyat #Mashreq #MashreqBahrain #RiseEveryDay #International_Banking_Group

Meet Naila Kiani, our Champion for Change. Being one of the ten mountaineers worldwide and the only Pakistani to have climbed 11 of the world’s highest peaks, Naila is a beacon of strength and resilience. A boxer, aerospace engineer, a mother and more, Naila’s journey has been an inspiration to all those who yearn to rise above social norms and achieve their dreams. تعرّف على Naila Kiani ، هذه البطلة الشغوفة بالتغيير وإحدى متسلقي الجبال العشرة حول العالم والباكستانية الوحيدة التي تسلقت 11 قمة من أعلى قمم العالم. تمثل نايلا تلك المنارة التي تلهم القوة وروح التحدي والإصرار لمن حولها. فهذه الملاكمة ومهندسة الطيران والأم قد أصبحت مسيرتها مصدر إلهام لأولئك الذين يسعون إلى تخطي كافة التحديات لتحقيق أحلامهم. #RiseEveryDay #Rise_Every_Day #Mashreq #تحدَّ_اليوم #المشرق

Fast Company spoke to Ahmed Abdelaal, Mashreq’s Group CEO, about defining basic principles and developing strategies that can help top leaders achieve work-life balance and mitigate burn-out related issues. Abdelaal says, “The first step is to understand your organization’s strategic priorities. Next, focus on outcomes and impact rather than sheer output. There will always be more work, but effective time management and organization will allow you to dedicate time to personal activities and goals. Lastly, recognize that you are only as strong as your foundation. Prioritize strengthening this foundation by taking care of your physical and mental well-being first. You cannot perform at your best or be most productive without maintaining your health.” He also highlights the importance of building a competent and trusted executive team that would allow you to deploy distributed leadership approach. He believes this approach not only benefits the leaders themselves but also enhances the overall resilience and performance of the organization. Read more here: Running a company is challenging. Can top leaders in the Middle East achieve work-life balance? http://ms.spr.ly/6042luDI0 #Mashreq #RiseEveryDay

Mashreq Business Banking Wins “SME Bank of the Year 2024” at the Asian Banking & Finance Awards 2024! This award serves as a testament to our dedication to providing simpler and smarter banking solutions to SMEs in the UAE, and driving substantial growth in a highly competitive market. We sincerely thank our valued clients for their trust and partnership. Your confidence inspires us to continually strive for excellence. Rajeev Chalisgaonkar #Mashreq #MashreqBusinessBanking #BusinessBankingSimplified #DigitalTransformation #DigitalInnovation

Let us know in the comments below, how has AI made YOUR life better? 👇🏼

It's AI Appreciation Day, and we'd like to hear from you!

It's AI Appreciation Day, and we'd like to hear from you!