Mashreq Bank, one of the oldest and leading financial institutions in the UAE, has been recognized as a ‘Market Leader’ for its best-in-class transactional banking services by Euromoney, a prominent business and finance publication.
The bank was honored in several categories by the leading industry magazine in its two recent surveys that include the Trade Finance Survey 2021 and Cash Management for Corporates and Financial Institutions Survey 2020.
In the Euromoney Trade Finance Survey 2021, Mashreq secured the ‘Market Leader’ position in the UAE and the Middle East region. These honors reflect the bank’s commitment towards investing in talent, new propositions like the Structured Trade and Commodity Finance, and technology to ensure the bank’s customers receive unique trade finance offerings.
Additionally, the bank was also acknowledged as a ‘Market Leader’ in the Middle East and Africa (MEA) region for Cash Management for Financial Institutions and for Cash Management for Corporates in the UAE.
The latest results show Mashreq’s long-term commitment and investments into the implementation of digital technologies in cash management. In line with its efforts to offer best-in-class services, Mashreq has launched a wide variety of cash management products and solutions designed to hasten inflows, automate payments and maximize liquidity.
“We are honored to receive these recognitions from Euromoney. As we all know, 2020 was a particularly challenging year, marked with global uncertainty and in many cases, it significantly impacted businesses. Trade Finance has always been a strong suit for Mashreq and an area where we continue to invest and bring in new trade finance solutions and digital capabilities.”
Commenting on the achievement, Joel Van Dusen, Group Head of Corporate & Investment Banking, added, “Throughout 2020, we at Mashreq strived to expand our market leadership across the UAE, MEA region, and we are humbled that our efforts have been recognized by our clients through these Euromoney surveys. A key part of this wider effort is ensuring that impeccable transactional banking services are available to our corporate and financial institutions clients.”
In 2020, Mashreq also won several awards from Asiamoney Middle East’s Best Bank Awards, as well as from World Finance and the Middle East’s Best Digital Bank’ from Euromoney’s Regional Awards for Excellence.