Mashreq offers deals on auto loans at Formula Al Ahram 2009 Motor Show

Commenting on Mashreq's participation, Amer Elwy, Vice President and Head of Retail Assets & Marketing, Retail Banking Group, Mashreq, said:

"Our first participation in the well organized and high profile Formula auto show was a raving success. Our sales teams received more than 450 applications with traffic exceeding 2500 inquirers and visitors to our booth. We are currently discussing future tie-ups with leading car dealers."

The bank's auto lending success at this year's motor show is largely due to the value and convenience the bank offers its customers. Mashreq offered a series of unbeatable auto loan deals, including the 15% auto loan programme that allows for financing of up to 85% of the total cost of new cars. The programme's competitive interest rate and its payment term that stretches from 6 to 72 months is specifically designed with the objective of helping customers borrow wisely and ensures that the repayment process is as simple as possible.

Mashreq also offers a 50% auto loan programme where it allows auto loan applicants to finance their new cars over a 5 year period after meeting basic documentation criteria. This programme was launched in time for Formula Al Ahram to reinforce the bank's strategic approach of introducing innovative solutions for its customers.

"Mashreq offers customer-focused financing solutions that help you get the car of your choice within your financial capabilities. Our competitive rates and streamlined approval processes help customers get the car they want quickly and effectively. We are proud to say that the 15% and 50% auto loan programmes represent the leading deals for car loans in the market and are currently available across all Mashreq Bank branches in Egypt backed by a diligent and professional sales force," concluded Elwy.

Mashreq's focus on the customer's best interest in all its products, services and approach is the drive behind bringing distinctive solutions into the market. Over the past 40 years it has been consistently ahead of the competition in the development of new products and services, whether in foreign trade services, direct banking or comprehensive mortgage products. Through this convenient and innovative package, Mashreq aims to provide financial support and peace of mind to its customers in Egypt.

For more information about Mashreq's auto loan programmes please visit any of the banks branches located in Downtown, Heliopolios, Giza, Nasr City, Maadi and Semouha- Alexandria. You can also channel your inquiries through Mashreq's call center on 19677.