Mashreq Bank has inaugurated its representative office in Turkey, reinforcing its commitment to supporting Turkish financial institutions and corporates.
The UAE-headquartered bank plays a vital role in facilitating risk capacity and capital flows to Turkish banks and corporations, as stated in a press announcement.
Mashreq also serves as a leading bookrunner for significant bond transactions involving Turkish entities, including capital issuances for major banks in Turkey.
This move is consistent with the bank’s broader strategy to enhance both its local and international footprint.
Ahmed Abdelaal, Group CEO of Mashreq, commented: “This strategic development enhances our ability to deliver world-class financial services to clients in Türkiye and the surrounding region, while also furthering our aim of sustainable and diversified growth.”
Joel Van Dusen, Group Head of Corporate and Investment Banking at Mashreq, added: “With Mashreq’s digital-first infrastructure and international expertise, we are well-equipped to support cross-border trade, improve access to capital, and play a constructive role in Türkiye’s financial sector.”
It is notable that bilateral trade between the UAE and Turkey surpassed USD 20 billion in 2024.
During the first quarter (Q1) of 2025, Mashreq Bank posted net profits after tax amounting to AED 1.79 billion, reflecting a year-on-year decline of 12% from AED 2.04 billion.
