Mashreqbank to add 16 branches & 10 new ATM in the region

Mashreqbank PSC, one of the leading banks in the United Arab Emirates (UAE) has revealed its plan to open 16 branches in Abu Dhabi and Al Ain.

The proposed move would bring the total number of branches run by the Dubai-based bank to 46 in the UAE.

In addition, the bank also has plans to add additional 10 ATM cash withdrawal machines in the region.

Recently, Mashreqbank has implemented a 2 Factor Authentication solution called CRYPTO-Shield 2 FA from CRYPTOCard for its corporate customers, which provides high levels of security for online access with a simple user experience.

In latest announced results, the lender has registered a decline of 38% in its net profit, to Dh 435 million in the second quarter of 2009 from Dh 706.86 million for the same period in 2008.