Pecker is a key witness in the case against the former US president, who is accused of falsifying business records to cover up hush-money payment
"The consumer-banking business is growing faster than the bank as a whole and we expect its contribution to group profit to increase," Beckett said. "The priority areas for us are the card business and the small and medium enterprise business."
Retail spending in the UAE, the second-biggest Arab economy, is growing as economic growth accelerates. Personal consumer loans in the country jumped 39 per cent in 2007 to Dh43.5 billion, according to central bank data. Mashreq, owned by billionaire Abdul Aziz Al Ghurair, is one of many UAE banks whose profit is surging amid an oil-driven economic boom. First-half profit grew 23 per cent, and revenue at the consumer bank is expected to grow by 30 per cent a year.
The company will add 17 new branches in the UAE. this year, expand its call center and sales force and enhance its Internet service, Beckett said. It will also increase the number of branches in Egypt to 11 from four and plans to have 25 outlets there next year. The branches are expected to break even in their fourth year. The bank is awaiting approval to open its first branch in Kuwait and expects it to be up and running by the end of the year.
Pecker is a key witness in the case against the former US president, who is accused of falsifying business records to cover up hush-money payment
The oil and gas conglomerate and Fifa, the world governing body, sign major sponsorship agreement
Toomaj Salehi risks being hanged after the conviction on the Shariah charge of "corruption on Earth" by a Revolutionary Court
Aid groups warn any invasion would add to already-catastrophic conditions for Gaza's 2.4 million people
The American they will face Australia and Serbia on July 15 and July 17 as part of their preparation for the Paris Olympic Games
The leaders emphasise that the deal to release the hostages would bring an immediate and prolonged ceasefire in Gaza
Dubai-based Sumit Augustine has had a philosophical approach towards spending
The regional upswing also defies oil production cutbacks