Mashreq Bank opens Türkiye office to boost regional ties and trade

By Vriti Gothi

Mashreq Bank has opened a new office in Türkiye to better support Turkish banks and businesses.

The move forms part of Mashreq’s wider growth strategy to expand its regional and international footprint and to enhance its role in channelling capital flows and risk capacity to Turkish banks and businesses.

Mashreq is a bond transaction by Turkish borrowers, including capital raisings for prominent banks. The new office is intended to strengthen these relationships and facilitate greater access to cross-border financial solutions.

Ahmed Abdelaal, Group CEO at Mashreq, said, “This strategic milestone strengthens our ability to support clients in Türkiye and the broader region with world-class financial solutions, while advancing our vision for sustainable and diversified growth.”

Joel Van Dusen, Group Head of Corporate and Investment Banking, said, “Leveraging Mashreq’s digital-first infrastructure and global expertise, we are well-positioned to facilitate cross-border trade, enhance capital access, and contribute meaningfully to Türkiye’s financial ecosystem.”

The development comes as bilateral trade between the UAE and Türkiye continues to grow, with trade volumes surpassing $20 billion in 2024 alone.

Mashreq’s expansion in Türkiye aligns with its broader ambition to build its presence in key markets while investing in digital capabilities and customer-focused solutions that support cross-border trade and economic growth.

In the first quarter of 2025, Mashreq reported net profits after tax of AED 1.79 billion, compared with AED 2.04 billion in the same period last year.

The new Türkiye office is expected to play a role in strengthening regional financial connections and supporting clients as they navigate evolving market opportunities.