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09 Feb 2011 - Small is Beautiful

February 9 2011, Sharjah, UAE: Paul Trowbridge is not your average banking CEO. The boss of the UAE’s United Arab Bank doesn't want to open a lot of branches, doesn't even want to massively increase his number of customers, and when asked to describe the products offered by his bank settles for "basic".

But should any of his more self-promoting peers take a quick glance at the recent performance of his Sharjah-headquartered institution they might just conclude that he's onto something.

With many larger banks still trying to repair the damage done to their balance sheets by the global financial crisis, last month United Arab Bank (UAB) reported a 10 per cent increase in net profits in 2010 compared to the previous year, and made more than Dhs300 million for the first time.

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