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United Arab Bank Reaps 'Best Trade Finance Offering' Award

Sharjah, UAE: United Arab Bank has been awarded 'Best Trade Finance Offering' by The Banker Middle East, the highly regarded banking magazine in the MENA region. The award has formally been presented to the Bank on a special Product Award Ceremony held at the Emirates Towers Hotel in Dubai on 23^rd March.

Paul Trowbridge, UAB 's Chief Executive Officer, commented: "The winning of this prestigious award highlights our efforts and dedication in developing our Trade Finance offering, based on feedback we get from our customers. It will undoubtedly strengthen our reputation amongst our clients and will pave the way for a strong growth in our key client segments. It also means that we must keep the pace to maintain and boost our reputation as an excellent Trade Finance Services provider." He added: " UAB has left no stone unturned to become a world-class bank in the UAE. We realize that only a single-minded focus on product quality and service excellence would help us get here. Today, we are proud to say that we are well on our way towards that goal."

Despite the continuing challenging economic situation UAB continues to build on its strengths in Trade Finance, improve on the strong product and process platform and in general to continue to invest for growth.

Shahid Baloch, EVP, Group Head - Commercial Banking said: " UAB has continued to invest in the expansion of our distribution footprint in order to be located closer to the Bank's increasing customer base, make additional process improvements specifically in the trade finance area, and to run further trade finance training workshops for our key customers." He also added "The aim of such workshops is the Bank's continuing commitment to partnering with our customers to facilitate them understanding and managing the challenges in international trade resulting from the global financial crisis. Equally important, and looking ahead, a concurrent aim is to facilitate customers being strongly positioned to get the most out of the expected trade upturn."

UAB became part of a GCC regional banking alliance in December 2007 upon the acquisition of a 40% interest in UAB by The Commercial Bank of Qatar (Cb), Qatar's largest private sector bank. With the Commercial Bank of Qatar concluding a similar alliance with National Bank of Oman (NBO) two years previously, all three banks are more strongly positioned for future growth.

In a challenging financial environment, United Arab Bank maintained earnings momentum recording net profit growth of 10% for the year ended 31 December 2010.

-Ends-

About United Arab Bank
Incorporated in 1975 with its headquarters in Sharjah, United Arab Bank ( UAB ) offers a range of financial services in both corporate and retail banking through fourteen offices and branches throughout the UAE. Acknowledged as a leading solutions provider to the growing commercial and industrial base across the seven emirates, the Bank has gained strong recognition in the corporate sector for the provision of structured finance solutions for complex banking transactions. With the launch of its Wealth Management and Islamic Banking Services, the Bank has grown its retail customer base, aiming to expand further.

Formerly established as a joint venture between UAE investors and Société Générale (SG), UAB became part of a GCC regional banking alliance in December 2007 on the acquisition of 40% interest in UAB by The Commercial Bank of Qatar (Cb), Qatar's largest private sector bank. With The Commercial Bank of Qatar concluding a similar alliance with National Bank of Oman (NBO) two years previously, all three banks are more strongly positioned for future growth.

For more information please consult www.uab.ae

For more information please contact:
Fida El Samad
Head of Corporate Communications
United Arab Bank
P.O. Box 25022, Sharjah
UAE
Tel: 00971 6 5075531
Fax: 00971 6 5733479
Mob: 00971 50 4594132
Email: fida.elsamad@uab.ae

© Press Release 2011