Mashreq declares 4% workforce redundant

Notes and media contacts

About Mashreq:
Mashreq is the largest private bank in the UAE and also the second oldest. Founded in 1967 as Bank of Oman, the bank has played a pioneering role in the industry, particularly in retail banking. Among its many firsts it was the first to launch such products as travellers' cheques, credit cards and ATMs.

It is invariably among the highest performing banks in the region. This year it recorded a Net Profit of over Dhs460m. At the end of this year's first quarter its Total Assets stood at Dhs94.1bn.

Mashreq has received numerous international awards, particularly for quality management. According to independent research it has more ISO certifications than any bank in the region by a wide margin. It's most recent acknowledgement was the Best Bank in the UAE 2008, from Euromoney.

As a leading financial Institution in the UAE Mashreq aims to be world class in every facet of its business, including its social responsibility to the community it serves. Towards this goal the bank pays particular attention to recruiting, training, developing and retaining UAE National employees.

For more information, please contact:
Saad Hakim
Event & PR Manager
Mashreq
Tel:04 6083603
Or
Neila Srioui
Junior Account Executive
Hill & Knowlton
Tel: +971 4 33 44 930
Fax: +971 4 33 44 923/33