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.
To view more UAB news, please click here.
