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Mashreq (bank)

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Mashreqbank psc is one of the leading banks in the United Arab Emirates (UAE), with total assets as at 31 December 2004, of AED 31,949 million (US$ 8,698 million), making it the largest private bank in the UAE. It is the second oldest commercial bank in the UAE having originally been established as Bank of Oman Ltd. in 1967 in Dubai.

The bank has strong brand equity in the dynamic and highly competitive UAE marketplace, having pioneered many innovative products and services. They bank one in every two households in the country with a wide range of product offerings in every business segment.

MashreqBank's shares are traded on the Dubai Financial Market. Its shareholders' funds amount to $1.1 billion USD (2005). Return on shareholders' funds is 16.3% (2005). The bank currently collects 50% of its income from non-interest sources, such as fees and bank charges.

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