Fabio Cannavaro Scores a Goal in United Arab Bank's Ras Al Khaimah Branch

March 12 2011, Sharjah, UAE: Under the patronage of HH Sheikh Mohammed Bin Saud Al Qasimi, Crown Prince of the Emirate of Ras Al Khaimah, United Arab Bank (UAB) today opened its second branch in Ras Al Khaimah.

The new branch is situated in a prime strategic location in RAK Tower, Sheikh Faisal Bin Sultan Al Qassimi building, in Dehan East, Sheikh Mohammed Salem Al Qasimi Street. It offers both conventional and Islamic banking services to retail customers.

The event was attended by UAB's Brand Ambassador, the legendary Footballer, Fabio Cannavaro who helped open the branch with an amazing 'kick-off' through the main entrance of the new branch. The event attracted a large attendance of VIP's, customers, and children who took this unique opportunity to meet with the Crown Prince of Ras Al Khaimah and with Cannavaro. The crowd watched in astonishment as the Captain of the 2006 World Cup Winning Team and now Captain of Al Ahli Football Club in Dubai kicked a goal through the door of the new Ras Al Khaimah branch of United Arab Bank, one of the UAE's oldest and longest established banks.

In his statement to the press, Paul Trowbridge, UAB's Chief Executive Officer, said: "Today's opening showcases our commitment to create and maintain a major banking entity capable of keeping up with the challenges of growing economic demands and customer requirements across all the seven Emirates, aiming to support the economic development of the UAE and its people." Commenting on Fabio Cannavaro's presence, he also added: "Fabio's presence with us today is a symbol of our shared unwavering commitment to excellence, our common pledge for success, and our joint vision and passion to win. To all of us, sport is about partnership, teamwork, and discipline, and so is banking. We believe that sport plays an integral role in today's society, promoting values such as dedication, determination, competition, endurance, and good sportsmanship, which is in line with our commitment to being part of and supporting the community and our proud nation. For United Arab Bank, this is a translation of the Bank's commitment to the vision of the Leadership of the UAE for promoting a fit and healthy young nation."

Fabio Cannavaro, the world football champion who led the Italian team to a stunning victory in the 2006 World Cup and who opened the UAB Branch with a powerful right kick said: "I am proud to be here today to open this branch for United Arab Bank, a great local bank with fantastic products who have been providing excellent service to their Customers over the last 36 years." 

Tom Smith, UAB's Executive Vice President, Group Head - Retail Banking, observed: "Football is the most popular sport in the UAE and we are excited about this collaboration with Fabio Cannavaro. He has inaugurated our branch on Sheikh Zayed Road in Dubai and our new branch here in RAK. His presence demonstrates our commitment to innovation and our growing appeal to the youth of the UAE. Our branch expansion will translate into greater reach and more efficient service, providing convenient access to UAB's comprehensive range of Conventional and Sharia'a compliant products and services."

UAB's new branch is its thirteenth operating branch in the UAE and it offers 24-hour ATM service incorporating cash and cheque deposit facility.

The Bank's ambitious branch network expansion program includes, in addition to the three new branches opened lately in Sharjah Corniche, Fujairah, and Sharjah Industrial, one more branch to be opened soon in Jebel Ali. UAB is currently refurbishing all existing branches with a view to modernize its image and better serve its customers and will be opening 7 additional branches across all the seven Emirates in 2011.

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