Mashreq focuses on wholesale banking, cross-border trade in India, treasure and investment banking products through its branch Mumbai, It also has a global competency center named Mashreq Global Network in Bangalore.
In January this year, Mashreq Bank invested an additional $100 million in capital. abdelalal India continues to be a strategic market for the bank with the global hub particularly in Bangalore.
“India is not only a strategic market for us in terms of banking, but there is a vast network (Mashreq Global Network) that supports the entire conglomerate. At the same time using the bank pool to increase its corporate (lending) footprint business expanding the number of talent available in the Indian market to support the overall operations of the group,” Abdelalal said.
Mashreq Global Network (MGN), High Performance has tripled its workforce in the past 18 months and is now supporting the bank’s global operations.
However, the bank has no plans to open new branches in India and will focus on corporate banking.
“We are expanding in India in many ways, increasing our corporate book and our corporate support. We have no intention of expanding our brick and mortar branches, but will enhance our digital services,” he added.
Abdelalal Mashreq will continue to expand in India not only through corporate activity but also through talent acquisition.
The bank currently has 1550 employees in India from 1440 in January and is expected to grow by 15% before the end of the year.
Mashreq unveiled its new brand identity with the tagline ‘Rise Every Day’ earlier this week. The bank said that its new brand identity is based on a three-pronged approach to the customer experience of ‘Innovation, Sustainability and Prudence’.