Mashreq Bank inaugurates office in Turkey to expand global presence
Mashreq Bank has opened its representative office in Turkey as a part of its commitment to supporting Turkish financial institutions and corporates.
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.
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