Mashreq travel boost and HSBC unit opens at Arabian Ranches
Emirates NBD has signed a partnership agreement with Porsche Services Middle East and Africa, a wholly- owned subsidiary of Germany's Porsche Financial Services to jointly offer financial solutions for new and pre-owned car purchases from the German Volkswagen Group to customers based in the UAE.
The agreement, starting with immediate effect, applies to purchase and financing of Audi, Porsche and VW vehicles, all of which are manufactured by Volkswagen
The new venture will provide customers with "competitive financial solutions" for buying new and pre-owned vehicles.
"This is a testament to our strategic objective of providing an enhanced service experience to our premium customers," said Suvo Sarkar, the general manager, retail banking, at Emirates NBD.
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After inaugurating its Jumeirah branch on Dubai's Al Wasl Road last November, HSBC has now opened the doors to its Arabian Ranches customer service unit for all prior Lloyds and HSBC customers. HSBC Bank Middle East acquired the onshore retail and commercial banking assets and liabilities of Lloyds Banking Group in the UAE last year.
In addition to about 8,800 personal and commercial customers and a loan book of US$573 million (as at December 31, 2011), the onshore assets also included one branch in Jumeirah and the customer service unit in Arabian Ranches.
Rick Crossman, HSBC's head of retail banking and wealth management, UAE, said: "We are seeing an evolution from speed to convenience in retail banking in the UAE and we are charting customer demands in terms of our physical presence. Our strategy focuses on a new customer relationship model that is fewer branches-dependent and more multi-channel in nature."
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Mashreq has announced the launch of a travel programme to help customers take off with offers and benefits on their Mashreq credit and debit cards. Mashreq credit card members can now buy their tickets at any airline to any destination and repay them later in equal monthly instalments for up to six months at zero interest. They need to make their booking directly through the airline's offices or online sites and call Mashreq to convert the same to the 0 per cent easy payment plan programme.
Additionally, customers are offered complimentary travel insurance. This includes medical expenses, travel inconvenience, purchase plus wallet protection, and is free to all customers who make their holiday bookings with their Mashreq Platinum or Titanium credit cards or Mashreq Platinum debit cards.
Nimish Dwivedi, the head of payments at Mashreq, said: "Our travel programme concentrates on savings, protection and convenience."
Valid through to June 30, all Mashreq credit and debit cardholders can enjoy discounts of up to 15 per cent on airline tickets and holiday packages through travel partners SNTTA, Make My Trip and Air Arabia.
Customers continue to get rewarded for international spending on their Mashreq card through the Salaam rewards programme - up to five points for every Dh1 spent overseas on their Mashreq credit card and one point for every Dh1 spent on their Mashreq debit card.
