UAE-based Mashreq Bank is planning to hire more staff amongst other initiatives to expand its presence in Egypt’s retail banking market.

Mashreq Bank head of retail banking Pankaj Kundra told Daily News Egypt that, "Our retail business plans to increase the number of staff by 30% in 2015."

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

The bank will also bring new technology to the Egyptian market including the CRM platform, interactive platforms/screens in branches and personalised IVR.

"We plan to enhance our services by launching new products to serve both retail as well as SME customers.

"Some of the services include a market defining credit card, consolidate statements, enhancing our Mashreq Gold proposition, speedy servicing for SME transactions, etc. We also plan to enhance our brand equity through online and digital channel marketing strategy," Kundra was further quoted as saying by the publication.

Mashreq Bank has already secured the approval of the Central Bank of Egypt to open mini branches, Kundra told the daily bulletin.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

He added: "We continue to strive to improve our product offerings, by launching new products as we have demonstrated in 2014 with the launch of the Business Current Account and the Retail Current Account. These accounts have generated a lot of interest amongst customers, who wish to gain high interest.

"We also saw an amazing response to our ‘Balance Transfer Offering’ on Credit Cards, in which the customers can enjoy 0% interest for 6 months if they transfer their outstanding balances on their existing credit cards."