August 4 2010, Sharjah, UAE: United Arab Bank (UAB) announces the launch of its first global Islamic Credit Card with a distinctive vertical design that makes it unique to the Islamic Credit Card arena in the UAE.

UAB had launched its Islamic Banking Services in March this year with three products initially covering Current Accounts, Investment, and Goods Murabaha. Soon after, the bank introduced two more products before the launch of its Islamic card, namely Vehicle Murabaha and Savings accounts. The new Credit Card comes to complement and strengthen the Bank’s Islamic product offering in line with its strategy to build a progressive portfolio of reliable banking products that can meet the growing needs and requirements of its Islamic banking customers.

July 15 2010, Sharjah, UAE: United Arab Bank P.J.S.C. today announced its financial results for the six months ended 30 June 2010.

In challenging financial markets, United Arab Bank maintained earnings momentum recording net profit growth of 5.3% to AED 141 million for the six months ended 30 June 2010, compared to AED 134 million achieved during the same period last year.

Earnings per share improved to AED 0.141 in June 2010 compared with AED 0.134 in June 2009. The Bank maintained good volume growth in the first half of the year despite the decline at the end of the first quarter with Loans and Advances increasing by 8.4% to AED 5.2 billion at 30 June 2010 from AED 4.8 billion at the end of December 2009.

June 22 2010, Sharjah, UAE: United Arab Bank has been awarded "Best Trade Finance House" by The Banker Middle East. The award has formally been presented to the Bank on a special Product Award Ceremony held at the Emirates Towers Hotel in Dubai on 16th June.

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 also 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."

April 27 2010, Sharjah, UAE: United Arab Bank has been awarded 'Best Customer Service' 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 20th April.

Paul Trowbridge, UAB's Chief Executive Officer, commented: "The winning of this prestigious award highlights our efforts and dedication in developing our products, 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 banking service provider."

DUBAI, April 19 (Reuters) - Sharjah-based United Arab Bank said it aims to deliver profit growth consistent with past performance, as it posted first quarter net profit slightly below the same period last year.

UAB posted first-quarter net profit of 65.5 million dirhams ($17.84 million) on Monday, just slightly below earnings of $65.8 million dirhams in the same period last year.

"UAB aims to deliver the sort of solid growth consistently with what we've done in the past," Chief Executive Officer Paul Trowbridge said on Monday. "We believe we can deliver that."

In a separate interview with Reuters last week, Trowbridge said the banking industry still faced challenges in the wake of the global financial crisis, and that it would now have to adjust to "a new normal" after years of experiencing heady growth on the back of a booming real estate market.

Trowbridge said UAB had mostly avoided real estate, opting instead to focus on lending to mostly medium-sized businesses in the UAE in sectors such as trade, services and manufacturing.

April 15 2010, Sharjah, UAE: United Arab Bank P.J.S.C. today announced its financial results for the first quarter ended 31 March 2010.

In challenging financial market conditions, United Arab Bank P.J.S.C. recorded a net profit of AED 65.5 million for the first quarter ended 31 March 2010, which was in line with the profit figure achieved during the same period last year.

DUBAI (Zawya Dow Jones) -- Sharjah-based United Arab Bank, which is 40%, owned by Commercial Bank of Qatar, does not expect a surge in its non performing loans or NPLs, this "challenging" year and will go ahead with plans to set up four new units across the United Arab Emirates, the bank’s chief executive said.

"The bank’s NPLs in 2009 were 1.7% of total exposure and we don't expect any significant increase this year," Paul Trowbridge told Zawya Dow Jones in an interview.

The United Arab Emirates central bank said earlier this month it expected loan defaults to rise to 6.4% of overall loans this year, up from about 4.5% at the end of last year.

UAB said in January net profit for 2009 rose 12% to 280.77 million dirham ($76 Million), compared to 250.2 million a year earlier.

The bank took AED 6 million in corporate provisions last year, and AED 34 million total provisions, including commercial and retail.

The Chairman of the Board of United Arab Bank, H.E. Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, unveiled the new Islamic Banking Offering at a special ceremony held at the House of Calligraphy in the Heritage Area in Sharjah in the presence of the Head of the Bank’s Shari’ah Supervisory Board, Sheikh Abdul Aziz Al Khulaifi, along with the Bank’s Directors and customers.

The Chairman, H.E. Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, stated: “Today, we are launching a new chapter in our Bank’s history. Islamic Banking is a rapidly growing phenomenon in the financial markets because it answers the call of discerning Muslims who seek a banking system that conforms to their religious beliefs and is Shari’ah compliant.”

Paul Trowbridge is the chief executive officer of the United Arab Bank (UAB), with a proven track record in top managerial roles. Australian-born Trowbridge started his career with Price Waterhouse, and then spent more than 20 years in a range of general management, credit risk, as well as retail, private and corporate banking positions with Westpac Corporation, the largest Australian bank. Prior to his new role at UAB, he was deputy CEO at the National Bank of Oman. Last month, Executive spoke with Trowbridge at UAB’s newest Sadara Wealth Management branch in Sharjah in the United Arab Emirates.

E In January you announced a 12 percent growth in profits for 2009. How were you able to achieve growth when so many banks in the region saw major losses, especially in the UAE?

I think UAB is an unusual bank. It was established 35 years ago by a group of business people to meet the needs of their community. We haven’t changed; we’re a business bank lending to the services and manufacturing segments. Historically we’ve never done much property, but where we have it’s been dealing with ‘active assets,’ where people have used real estate as part of their activities, so factories, car parks, shopping centers, accommodation and hospitals.

استقبل طارق سلطان بن خادم رئيس مجلس إدارة نادي الثقة للمعاقين بالشارقة، أمس الأول، محمد أحمد أبو هندي مدير الموارد البشرية بالبنك العربي المتحد في إطار التعاون المشترك بين النادي والبنك الذي يرعى فعاليات وبرامج مشاريع الثقة لتأهيل وتشغيل ذوي الإعاقة للعام التاسع على التوالي، بحضور عبداللع إبراهيم نصار المدير المالي للنادي وراشد محمد الكوس عضو مجلس الإدارة رئيس لجنة الثقافة والإعلام وأحمد سالم المظلوم المدير التنفيذي للنادي وحيدر طالب مدير المشاريع.

وتقدم طارق سلطان بن خادم رئيس مجلس إدارة نادي الثقة للمعاقين بالشكر والتقدير إلى رئيس وأعضاء مجلس إدارة البنك العربي المتحد لدعمه المتواصل والدائم لبرامج وأنشطة مشاريع الثقة، موضحاَ إن مثل هذه المبادرات تعزز دور مشاريع الثقة في مجال تأهيل وتشغيل ذوي الإعاقة، وتحقيق رؤية صاحب السمو الشيخ الدكتور سلطان بن محمد القاسمي، عضو المجلس الأعلى، حاكم الشارقة، بتوفير حياة كريمة للمعاقين عن طريق تأهيلهم وتدريبهم والعمل على توفير الفرص الكفيلة بضمان مستقبل أفضل لهم أسوة بباقي فئات المجتمع.

March 01 2010, Sharjah, UAE: United Arab Bank (UAB) was awarded for maintaining 100% Emiratization of Branch Manager Positions for three consecutive years.

The award was presented by H.H. Sheikh Dr. Sultan Bin Mohammad Al Qassimi, Member of the Supreme Council, Ruler of Sharjah, during the Opening and Award Ceremony of the 12th National Career Fair Exhibition in Sharjah held on 24th February 2010.

Paul Trowbridge, UAB’s CEO who received the award, commented: "Winning this award is a clear indication of UAB’s will and commitment to support and promote Emiratization in the Bank. Our objective is not only to meet Emiratization requirements but to also offer career advancement opportunities to qualified and talented UAE Nationals in various junior and senior positions."

The General Assembly of the Shareholders of United Arab Bank (UAB) approved during its annual general meeting held yesterday February 17th at Coral Beach Resort in Sharjah the proposal of the Board of Directors regarding the appropriation of profits for the year 2009 by distributing a cash dividend equal to 15% of the paid-up capital.

UAB’s Board of Directors had initially proposed a 22% cash dividend that was subsequently reduced to 15% due to a recent Central Bank regulation that has restricted all local Banks’ cash dividend allocation to a maximum ceiling of 50% of the net achieved profit.

By
CL Jose

When majority of the banks are struggling to retain their last year's profit levels and some even finding it difficult to stay in the black, there have been a few banks that have been successful in improving their performance year after year. United Arab Bank (UAB) did it for the last year (2009) as well when the bank announced a 12 per cent growth in its net profit. UAB's Chief Executive Officer Paul Trowbridge told Emirates Business that the bank has put in enormous effort in reining in the cost and thus to bring down the cost to income ratio.

How did UAB manage to improve its profitability when others are struggling to retain the 2008 performance?
Using the resources and professional relationships of our 40 per cent shareholder Commercial Bank of Qatar [CBQ], we were able to take out layers of processes and bring the customer much closer to us – we eliminated paperwork and made processes much more user- friendly.

Sharjah – United Arab Bank, aided by a brilliant century by Jamshed, defeated Solanki CC in a high-scoring match of the Sharjah Invitation Tournament organized by Sharjah Cricket Council at Al Dhaid Cricket Village.
Jamshed smashed 103 as United Arab Bank made a huge 241 for six in the allotted overs. Sohail (36), Afzal(30) and Nadeem (25) were other main scorers.
Solanki, in reply, were bowled out for 191 in 18 overs despite a fluent 98 by Mohammed Omar. Kashif and Azhar took three wickets each.
Meanwhile, in the Inter-Bank tournament, also organized by Sharjah Cricket Council, Emirates Islamic Bank (EIB) won their respective matches against Royal Bank of Scotland and Barclays Bank with ease.

Click here to view Sadara Launch and Buhairah Corniche Branch Opening Gallery.

January 19 2010, Sharjah, UAE: United Arab Bank P.J.S.C. today announced its financial results for the year ended 31 December 2009.

In challenging financial markets, United Arab Bank maintained its earnings momentum and recorded net profit growth of 12% to AED 281 million for the year 2009, compared to AED 250 million achieved during 2008.

Earnings per share improved to AED 0.28 for 2009 compared to AED 0.25 in 2008.

January 18 2010, Sharjah, UAE: United Arab Bank (UAB) today launched its Sadara Wealth Management Program, exclusively tailored to suit the requirements of its premium customers.

The launch took place alongside the inauguration ceremony of UAB’s new Branch in Sharjah at a prime location in Al Muhannad Tower on Buhaira Corniche. The Branch will incorporate an exclusive Sadara Lounge where dedicated Relationship Managers will receive Sadara customers in surroundings that recognize their privileged status in UAB.

The Chairman of the Board of United Arab Bank, Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, stated: "Today’s event is a step towards the realization of a more comprehensive vision that we are pursuing – that of creating and maintaining a major banking entity capable of keeping up with the challenges of growing economic demands and our customer requirements."

DUBAI, Dec 16 (Reuters) - United Arab Bank (UAB) expects fourth-quarter earnings growth to be "stable and broadly in line" with previous quarters, reflecting conditions in its main markets, its chief executive said in an interview.

"We generally don't like to provide surprises, there isn't much difference between the reported consistent trend of the first three quarters in our results," Paul Trowbridge told Reuters.

"The underlying business, the local economy based on selling real goods and providing real services, that hasn't changed dramatically," said the Australian-born banker who was previously deputy-chief at National Bank of Oman.

UAB, whose main shareholder is Commercial Bank of Qatar with a 40 percent stake, said in October net profit in the first nine months rose 12 percent to 204 million UAE dirhams ($55.54 million) from the same period in 2008.

November 25 2009, Sharjah, UAE: United Arab Bank won First Prize in Webranking in the UAE under Retail Category offered by the Webranking Committee and Union of Arab Banks.

UAB’s new website ranked first in retail category among 200 listed banks and financial institutions in nine different Arab countries. The award was presented to UAB’s CEO, Mr. Paul Trowbridge, on the second day of the Annual Arab Banking Conference 2009 organized by the Union of Arab Banks in a prestigious ceremony held at the Intercontinental Phoenicia Hotel in Beirut, Lebanon. The event was attended by VIPs, Ambassadors, diplomats, economists, academics, as well as bankers, media and other guests from Bahrain, Egypt, Jordan, Lebanon, Oman, Qatar, Saudi Arabia, and United Arab Emirates.

November 19 2009, Sharjah, UAE: United Arab Bank awarded yesterday a 'Best Book of the Year' Award to 'Dictionary of the Most Prominent Arab Men and Women' published by the renowned Lebanese Dar Al Ilm Lil Malayin Publishing House.

The award was presented to the winner on the sidelines of the 28th edition of Sharjah International Book Fair by UAB's Chief Executive Officer, Paul Trowbridge.

Following the globally-renowned success of the Sharjah Book Fair, United Arab Bank joined efforts to engage in this success story to further support the cultural and intellectual role that the Emirate of Sharjah has successfully forged itself over the years.

جدد البنك العربي المتحد (ش.م.ع) رعايته ودعمه السنوي لبرامج وفعاليات كليات التقنية العليا بالشارقة للعام الأكاديمي الحالي. جاء هذا الدعم نطلاقا من علاقة الشراكة المتميزة التي تربط البنك العربي المتحد وكليات التقنية العليا بالشارقة. وقد استقبل الدكتور فريد أوهان _مدير كليات التقنية العليا_ بالشارقة السيد محمد احمد بوهندي _مدير و رئيس إدارة الموارد البشرية_ بالبنك العربي المتحد، بمكتبه الكائن في المدينة الجامعية بالشارقة حيث تبادل الطرفين مناقشات في عدة مواضيع من أهمها كيفية تطوير ودعم برامج التوطين، بالإضافة إلى مناقشة خطط تعزيز الشراكة الاجتماعية بين البنك وكليات التقنية.

October 15 2009, Sharjah, UAE: United Arab Bank P.J.S.C. today announced its financial results for the nine months ended 30 September 2009.

In challenging financial markets, United Arab Bank maintained its earnings momentum and recorded net profit growth of 12% to AED 204 million for the nine months ended 30 September 2009, compared to AED 182 million achieved during the same period last year.

Earnings per share improved to AED 0.20 for the nine months to 30 September 2009 compared to AED 0.18 in the same period last year.

Click here for Abu Dhabi images.
Click here for Dubai images.

September 14 2009, Sharjah, UAE: United Arab Bank announced the appointment of Sheikh Mohammed Abdulla Al Nuaimi, previously Manager of the Bank’s main Sharjah Branch, as Head of Sadara Wealth Management.

Sheikh Mohammed Al Nuaimi is an MBA graduate with a proven track record in banking and finance and has previously assumed various managerial positions with some well known banks in the UAE including UAB.

UAB's CEO, Mr. Paul Trowbridge commented: "UAB will soon introduce a whole new experience of banking to our customers. Designed to cater to the needs of our Affluent Customers, Sadara Wealth Management will provide a high level of personalized services with superior standards of reliability and confidentiality. The new Head of Sadara will be instrumental in ensuring our success and I am delighted to have a person of the caliber of Sheikh Mohammed whose skills and experience will be invaluable for this role."

September 11 2009, Sharjah, UAE: United Arab Bank has plans to offer Islamic banking solutions either through a dedicated Islamic banking window or an Islamic banking subsidiary, the bank's top officials told Gulf News.

"Our board is actively considering the option of offering Islamic banking solutions. Our partner, Commercial Bank of Qatar (CBQ) has the expertise in Sharia compliant products and services. Although we have not decided on the timing of the launch, it is very much on our plan," said Shaikh Faisal Bin Sultan Bin Salem Al Qasimi, Chairman of United Arab Bank.

CBQ has a 40 per cent equity stake in the lender which it acquired in 2007. The UAB management said that there is a growing demand for Islamic products from its existing customer base.

"The board and the management are keen to provide appropriate products that have demand in the local and regional environment. Keeping in mind we are primarily an Arab bank and operating in a region where there is a strong demand for Sharja compliant products. We are taking early steps to offer limited number of Islamic product to our customers," said Paul Trowbridge, chief executive officer.

September 11 2009, Sharjah, UAE:A combination of prudent lending policies and a professional approach to risk management has kept the Sharjah-based United Arab Bank (UAB) protected from the impact of mounting bad loans that affected the banking industry in the wake of the global financial crisis.

While the bank intends to continue its cautious policies, it has plans to expand its businesses in niche retail segments, Islamic financial services and wealth management.

Incorporated in 1975, UAB offers a range of fin-ancial services in both corporate and retail banking throughout the UAE.

The bank was established as a joint venture between UAE investors and Société Générale (SG). UAB became part of a GCC regional banking alliance in December 2007 following the acquisition of a 40 per cent stake by the Commercial Bank of Qatar, Qatar's largest private sector bank.

August 30 2009, Sharjah, UAE: United Arab Bank's Sadara Platinum Card has won "Best New Credit Card Design" Award in what has been described as "unique, fresh and innovative" artwork by Visa's Executives. Proudly for the Middle East region, a UAE credit card will be prominently displayed on the Visa Website and in Visa's London Headquarters.

Designed to cater to Affluent customers through UAB's newly launched Sadara Wealth Management service, UAB's new Platinum Card empowers Sadara members with exclusive privileges and a design that has been tailored to reflect their individual needs and status.

August 24 2009, Sharjah, UAE: Capital Intelligence, the International Credit Rating Agency, has maintained its foreign currency ratings of United Arab Bank (UAB) at BBB+ long-term and A2 short-term. The long-term rating indicates good credit quality with satisfactory capacity for timely fulfillment of financial obligations. The A2 rating suggests very strong capacity for timely repayment over the short-term. The Financial Strength rating is maintained at BBB.

The ratings are underpinned by CBQ’s ownership, its management control of the Bank and the liquidity support extended by the Federal Government and Central Bank. In addition, UAB’s good asset quality and profitability support the Financial Strength rating. A ‘Stable’ outlook is appended to all the ratings given the Bank’s strong half-year 2009 results.

July 15 2009, Sharjah, UAE: United Arab Bank P.J.S.C. today announced its financial results for the six months ended 30 June 2009.

In challenging financial markets, United Arab Bank maintained earnings momentum recording net profit growth of 11% to AED 134 million for the six months ended 30 June 2009, compared to AED 121 million achieved during the same period last year.

Earnings per share improved to AED 0.134 in June 2009 compared to AED 0.121 in June 2008. Growth momentum has been maintained despite a decline in volumes since December 2008 due to the slowdown resulting from market conditions. For the first half year of 2009 loans increased by 8 % to AED 5.0 billion from AED 4.6 billion for the prior year period and customers’ deposits rose by 5 % to AED 4.4 billion from AED 4.2 billion in the first half year of 2008.

While most banks in the UAE focused on unrestricted growth during the past four or five years, there were few banks such as United Arab Bank (UAB), that chose to tread a conservative path serving its loyal clients and adding quality to its offerings. This has paid off, according to Paul Trowbridge, Chief Executive of UAB.

"We do not have any toxic assets on our books and we have been able to improve our earnings quarter after quarter," he said. Trowbridge took over the reins of this Sharjah-headquartered bank in December, at the peak of the financial crisis.

Omar Hussain Alfardan has been appointed Vice-Chairman of United Arab Bank (UAB), one of Commercialbank’s strategic alliance partners in the region.

UAB board of directors unanimously elected Omar Alfardan vice chairman at their recent board meeting in Sharjah,
Commercialbank said here yesterday.

UAB, in which Commercialbank took a 40% shareholding in 2008, operates nine branches in the UAE, offering corporate and retail banking services. The bank had total assets of 7.2bn UAE dirhams as on March 31.

قال بول تروبردج الرئيس التنفيذي للبنك العربي المتحد إن البنك اعتمد عبر سنوات تواجده في السوق المصرفي على رسم سياسته في التمويل والإقراض بأسلوب علمي يرتكز على أسس مصرفية راسخة ومتوازنة، حيث ان البنك يقوم بتقديم التسهيلات للقطاعين التجاري والصناعي بالدرجة الأولى بعيدا عن التسهيلات المصرفية

المتصلة بالمضاربات سواء في مجال العقارات أو الأسهم. وأضاف «ما يهمنا هو تغطية احتياجات العميل حسب الأصول والقواعد المصرفية الصحيحة بشكل يساهم في بناء المجتمع الذي نحن معنيون وملزمون به بعيدا عن كل ما من شأنه أن يربك علاقتنا بالعميل أو يدفعنا وإياه إلى تعثر نحن بغنى عنه. إن

May 2 2009, Sharjah, UAE: United Arab Bank P.J.S.C. today announced the extension of its Counter Service hours throughout the Bank's network to handle customer teller transactions from 8.00 a.m. to 2.00 p.m. daily, Saturdays through Thursdays.

Mr. Paul Trowbridge, the Bank's Chief Executive Officer, commented: "This is another step in the ongoing challenge to enhance and sustain our relationship with customers. We are absolutely focused on getting closer to them, creating a strong customer caring organization. Extending our banking hours is only one of many initiatives we are taking to provide the best value to customers and stakeholders."

United Arab Bank P.J.S.C maintained its earnings momentum recording net profit growth of 21% to AED 66 million for the first quarter ended 31 March 2009, compared to AED 55 million achieved during the same period last year. "We hope those initiatives will continue to support that growth, " added Mr. Trowbridge, the Bank's CEO.

Strong Growth with Net profit up 21% to AED 66 million

April 20 2009, Sharjah, UAE: United Arab Bank P.J.S.C. today announced its financial results for the first quarter ended 31 March 2009.

In challenging financial market conditions, United Arab Bank P.J.S.C maintained earnings momentum recording net profit growth of 21% to AED 66 million for the first quarter ended 31 March 2009, compared to AED 55 million achieved during the same period last year.

2008 Net Profit Up 18% to AED 250 mio

• Total assets up 22% to AED 7.6 bio
• Total loans up 40% to AED 5.5 bio
• Customer deposits up 21% to AED 5 bio
• ROAE increased by 19% to AED 0.31

The General Assembly of the Shareholders of United Arab Bank (UAB) approved during its annual general meeting held yesterday April 15th at Coral Beach Resort in Sharjah the proposal of the Board of Directors regarding the appropriation of profits for the year 2008 by distributing a scrip dividend of 25%.

United Arab Bank (UAB) today announced that Paul Trowbridge has been appointed its new Chief Executive Officer.

Mr. Trowbridge is an Australian-born banker with a proven track record in diverse top bank managerial roles. Holding a Bachelor of Economics, he started his career with Price Waterhouse and then spent more than 20 years in a range of General Management, Credit Risk, and Corporate Banking positions with Westpac Corporation, the largest Australian Bank and one of the world's highest rated banking institutions. Prior to his new role, he was Deputy CEO at National Bank of Oman, responsible for driving strategic business initiatives.

Announcing the appointment, Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of United Arab Bank said:

Saturday 21st March 2009, Sharjah, UAE: United Arab Bank P.J.S.C. today announced its financial results for the full year ending December 31 2008.

Results highlights

• Net profit up 18.4% to AED 250.2 million
• Total assets up 22.2% to AED 7.5 billion
• Total loans up 39.7% to AED 5.5 billion
• Customer deposits up 20.5% to AED 5 billion
• ROAE increased to 19.1% from 17.8%

Against a volatile economic backdrop in 2008, United Arab Bank P.J.S.C. maintained strength and momentum with solid earnings growth. The Bank's Net Profit increased by 18.4% to AED 250.2 million for the year ended 31 December 2008, compared to AED 211.3 million achieved in 2007.

M/s UAB Shareholders Investment Portfolio Ltd announced their decision to distribute, starting 20th January 2009, profits from the proceeds of the sale of the Bank's shares held by the Portfolio on 17th December 2007, which had been waived by the owners of the Portfolio for the benefit of all Bank's Shareholders, to the eligible UAB Shareholders registered in the Bank Share Register.

The Portfolio's profit amounted to AED 567,331,055 million representing 93.44% of shared capital at the time. Accordingly, as per the Portfolio's request and in accordance with the Resolution of the Extraordinary Meeting of UAB Shareholders held on November 28th 2007, the Bank's branches are to start from 20th January 2009 the disbursement of the said profits of the Portfolio to eligible UAB shareholders.

UAB major shareholders had previously bought, in February 2005, Societe Generale's 20% stake in the Bank via a portfolio owned by major shareholders on behalf of all shareholders.

For the third year in a row, United Arab Bank (UAB) was presented with an award in recognition of its continuously active role in supporting and sponsoring the education and development of UAE Nationals at the Higher Colleges of Technology in Sharjah. The award was presented at the graduation ceremony held on 24 November at HCT premises in Sharjah under the patronage of HH Sheikh Sultan Bin Mohamed Bin Sultan Al Qassimi, Crown Prince and Deputy Ruler of Sharjah, in the presence of HH Sheikh Abdullah Bin Salem Al Qassimi, Deputy Ruler of Sharjah, & HE Sheikha Lubna Al Qassimi, Minister of Foreign Trade.

The award came in recognition of the support UAB has extended to HCT students offering them academic sponsorships and attractive career opportunities at the Bank in various fields. It was received, on behalf of UAB, by Mr. Mohamed Abu Hindi, Manager-Head of Human Resources. We highly value our partnership with HCT. Our aim is to play a pivotal role in enlightening, educating, and motivating students across HCT," stated Mr. Abu Hindi.

• Net profit up 20.5% to AED 182 million.
• Total assets up 15.1% to AED 7.1 billion
• Total loans up 39.7% to AED 5.5 billion.
• Customer deposits up 14.6% to AED 4.7 billion.
• ROAE increased to 18.5% from 17.4%.

United Arab Bank P.J.S.C. today announced net profit growth of 20.5% to AED 182 million for the nine months ended 30 September 2008, compared to AED 151 million achieved during the same period last year.