Best private bank in the UAE

Established in 1967, Mashreq Bank is the oldest bank in the United Arab Emirates and is one of the largest private sector banks in the country. The bank offers a diversified range of private banking products catering to clients from the UAE, the wider Gulf Co-operation Council region and the rest of the world. It has operations in 19 countries, combined with offshore booking capabilities. “We are effectively a one-stop solution to meet the evolving needs of our clientele,” says Vipul Kapur, head of private banking at Mashreq Bank. “Our clients have access to a wide range of financial solutions ranging from bespoke investment portfolios, wealth structuring, legacy planning and lending solutions.” In 2020, the bank launched several solutions including Comarch and FinIQ for improved portfolio reporting and transacting capabilities. It also upgraded its foreign exchange and futures trading suite of products to include the MT5 Platform. Mr Kapur says the bank is the only one in the region to offer this advanced trading system. Income-orientated multi-asset fund solutions have proved popular for the bank’s clients. Its funds platform spans various strategies from pure credit to multi-asset, equity only or alternative investments strategies. The platform contains funds across both the conventional and the Islamic space. During the Covid-19 pandemic, Mashreq Bank advised clients to hold on to their assets. Government measures to ease fiscal and monetary pressures in the region helped equity and credit markets to improve significantly. “Investors who pulled back their investments during the early pandemic period weren’t able to fully capitalise on the opportunities the market presented,” says Mr Kapur. HM