Mashreq named Market Leader for best-in-class transactional banking services in the UAE and Middle East as voted for by customers in latest Euromoney survey
- Second successive year that Mashreq has taken the top spot in the annual Euromoney Trade Finance Survey
- Mashreq also ranked number one for service in Africa, Pakistan and Qatar
Dubai, United Arab Emirates, 31 March 2022: Mashreq Bank, one of the leading financial institutions in the UAE, has been recognized as a Market Leader for its best-in-class transactional banking services, as voted for by its customers in the 2022 Euromoney Trade Finance Survey, for the second year in succession.
The recognition for the bank by the leading industry publication came as part of a five-star showing for Mashreq. As well as once again being named Market Leader in both the UAE and wider Middle East region, Mashreq also received Best Service accolades for Africa, Pakistan, and Qatar.
Ahmed Abdelaal Group CEO, Mashreq Bank, said: “We are honored that our customers have once again recognized us as Market Leaders in the prestigious Euromoney Trade Finance Survey, coming out on top in a hugely competitive field ahead of many banks throughout the region. Our Trade Finance business continues to lead the digital transformation agenda in both customer channels and back office operational platforms by using the latest technological innovations, such as machine learning, artificial intelligence, OCR, blockchain etc.
“It is also great testament to the tireless efforts of our staff who continued to make sure our customer-first policy remained at the front and center of everything we did over the last two difficult years. This helped Mashreq Trade Finance remain resilient during the pandemic, with all key performance indicators remaining on the positive side, including customer experience.”
Despite the global uncertainty caused by the Covid pandemic, Mashreq witnessed consistent double-digit growth in our Trade Finance business for the past three years, superseding both local and global trade growth, as well as year-on-year GDP.
Mashreq continues to be a one-stop-shop for all corporate trade finance requirements, offering a full suite of products and services, with undisputed capabilities to provide bespoke trade finance solutions to meet complex customer requirements across all industry sectors, facilitated by internationally-standard products and solutions such as supplier finance, non-recourse finance, structured trade and commodity finance, positioning Mashreq ahead of the competition.
The trade finance business connects customers to business opportunities through Mashreq’s branch network and deep understanding of international trade corridors, developed over many decades, with the ability to facilitate trade across the globe leveraging Mashreq’s widespread FI network.
Euromoney is renowned for its benchmark surveys, awards and ratings in the banking industry.
One of the UAE’s best performing banks for five decades, Mashreq is a leading financial institution with an expanding footprint across the Middle East. We have international offices in Europe, Asia, Africa and the US, and a strong presence in the financial capitals of the world.
As the oldest bank in the UAE, our journey can be traced back to humble beginnings in 1967, followed by periods of rapid growth and strategic expansion. Throughout our history, Mashreq has differentiated itself by pioneering new-to-market concepts and launching unique products and services.
Our innovative approach sets us truly apart, it also continues to win us numerous awards and accolades across all fields including digital banking, the most recent were: Middle East Best Digital Bank by Euromoney Regional Awards for Excellence, the Most Innovative Consumer/Corporate Digital Bank in the UAE and Best Bank in the UAE by World’s Best Bank Awards by Global Finance, Most Innovative Bank in the Middle East by EMEA Finance and many others.