Established in 1967, Mashreq operates across the U.A.E., Bahrain, Kuwait, Egypt, Hong Kong, India, Pakistan, Qatar, the U.K., and the U.S. In July 2024, it closed a $750 million senior unsecured syndicated term loan facility for the State Bank of India. In September 2024, Arcapita Group Holdings Limited and Dgpays reached an agreement to acquire a majority stake in NEOPAY from Mashreq, valuing it at approximately $385 million. The bank generated a net income of $2.5 billion in 2024 compared to $2.4 billion in 2023.