Reinvention has become one of Mashreq’s defining characteristics. Founded in 1967 as one of the UAE’s earliest financial institutions, the bank has repeatedly adapted to changes in the region’s economy and financial landscape. Today, it combines the reach and expertise of an established universal bank with the agility, technology and client focus more commonly associated with a new generation of financial institutions.
The Dubai-headquartered bank has spent recent years reshaping its operating model around digital-first distribution, scalable platforms and data-led decision making, while maintaining the breadth of a universal banking franchise. The result has been a stronger regional institution serving individuals, SMEs, corporates and institutional clients across key financial corridors in the Middle East, Asia, Europe and the US.
“Our strong legacy and disciplined operating model have ensured we remain resilient through periods of uncertainty, allowing us to continue supporting clients while staying focused on sustainable growth,” says Ahmed Abdelaal, group chief executive officer, Mashreq.
That strategy has translated into tangible growth across the franchise. Mashreq strengthened its retail business by expanding propositions across different stages of the customer lifecycle, increasing personal banking deposits by 35.9% while building deeper relationships across mass, affluent and wealth segments.
Targeting the next generation
A key part of that expansion has been the development of more tailored propositions. NEO PLUS, Mashreq’s emerging-affluent offering, attracted more than 140,000 customers and generated over AED4 billion ($1.09 billion) in new liabilities in 2025, reflecting the bank’s ability to capture a new generation of digitally engaged customers and support their transition towards broader financial needs.
Wealth management has become an increasingly important part of the same strategy. Mashreq continued broadening its investment capabilities by combining global market access, advisory support and relationship manager expertise across a wider product universe. Its wealth proposition now provides access to more than 30,000 securities across 22 markets, helping drive a 37% increase in new investors, 23% growth in assets under management and 17% revenue growth.
Our ambition is to be the financial partner that connects these markets, bringing together the discipline of an institution built on trust over decades with the agility to evolve alongside our client
Ahmed Abdelaal
The bank also continued to expand beyond its home market by applying its operating model to new customer segments and geographies. In Pakistan, Mashreq launched a digital-only bank built on cloud-native architecture, targeting one of the world’s largest underbanked markets and demonstrating the scalability of its technology platform. Within three months of launch, it had acquired more than 100,000 customers. In Egypt, it expanded distribution through new acquisition channels and ecosystem partnerships, further extending its regional retail banking footprint.
Mashreq’s SME franchise reflected its focus on becoming a broader partner for businesses rather than simply a provider of banking products. Through NEO BIZ, the bank has built a comprehensive SME proposition combining account services, lending, trade finance, payments, foreign exchange and value-added business services. Improvements to onboarding, relationship management and client servicing helped Mashreq reach more than 100,000 SMEs in the UAE, giving it more than 20% market share.
Tech-enabled growth
For larger clients, Mashreq’s corporate and investment banking group continued to build on its position as a regional connector for companies and institutions operating across key financial corridors. Corporate lending increased by approximately 34%, supported by capabilities spanning transaction banking, global markets, structured trade finance, syndications, leveraged finance and debt capital markets. Its NEO CORP platform forms part of a broader corporate banking ecosystem spanning cash management, payments, trade and collections, helping clients improve treasury efficiency and manage increasingly complex regional and international operations.
Investment in people and technology has supported the broader franchise development. Mashreq’s Digital Innovation Studio has grown from an initial team of five specialists in 2020 to more than 200 employees working across customer journeys, analytics, business solutions and ecosystem partnerships. These capabilities have helped relationship managers become more proactive and insight-driven, while strengthening efficiency and client engagement across the organisation.
“As Middle Eastern economies become more integrated with global markets, we see significant opportunities driven by the Gulf’s capital strength and the growth momentum of South Asia and North Africa. Our ambition is to be the financial partner that connects these markets, bringing together the discipline of an institution built on trust over decades with the agility to evolve alongside our clients,” says Abdelaal.
Mashreq’s progress demonstrates how established regional banks can reinvent themselves without losing the relationship strengths that define their franchises. By combining innovation, product depth and specialist expertise with an increasingly international outlook, the bank has built a platform designed to support clients across every stage of their financial journey.
