Hitesh Asarpota, CEO of Emirates NBD Capital, highlighted the strategic importance of the investment in LoanBook, stating that their loan syndication and agency team would work closely with LoanBook to address inefficiencies within the current loan market structure.
He emphasised that this collaboration aligns with Emirates NBD’s broader commitment to innovation and expressed enthusiasm about contributing to LoanBook’s efforts to modernise the loan market ecosystem.
Similarly, Chiradeep Deb, Global Head of Investment Banking at Mashreq, underscored the significance of this partnership, noting that Mashreq is proud to support LoanBook’s mission to digitise the syndicated loan market. He added that through their NeoVentures initiative, Mashreq will collaborate with LoanBook to create and commercialise solutions across the EMEA region, aiming to modernise the market and enhance efficiency.
This partnership reaffirms both banks’ focus on innovation. Neeraj Makin, Group Head of Strategy, Analytics, and Venture Capital at Emirates NBD, pointed out that the investment represents Emirates NBD’s ongoing dedication to technological advancement.
He noted that this marks their first investment in a UAE-based fintech, a milestone that reflects their strategy to accelerate loan syndication processes and drive improvements in global loan markets.
Meanwhile, Amith Rajan, Head of Wholesale Digital Banking and CEO of NeoVentures at Mashreq, explained that the investment aligns with Mashreq’s vision of leading digital transformation in banking.
He highlighted their commitment to introducing advanced technologies to improve customer and employee experiences, stressing that their investment in fintechs like NewBridge demonstrates their goal to transform traditionally manual markets into efficient, AI-driven ecosystems through collaborative innovation.
