Dubai lender Mashreq not interested in stanChart UAE assets

Dubai lender Mashreq has no interest in purchasing assets of Standard Chartered in the United Arab Emirates, but is open to acquisitions in Egypt and Turkey. (File photo: Reuters)

Dubai lender Mashreq has no interest in purchasing assets of Standard Chartered in the United Arab Emirates, but is open to acquisitions in Egypt and Turkey, its chief executive told Reuters on Wednesday.

The British bank is aiming to sell part of its business in the UAE after it agreed to close some accounts there in an anti-money laundering settlement with authorities in the United States, sources told Reuters last month.

Mashreq, Dubai's third-largest bank by assets, expects loan growth in 2014 to be between 11 and 15 percent, CEO Abdul Aziz al-Ghurair said on the sidelines of a company event in Dubai.
 

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Last Update: 15:08 KSA 18:08 - GMT 15:08
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