Sharjah, UAE: United Arab Bank P.J.S.C. ("UAB" or "the Bank") announces its financial results for the nine months ended 30 September 2011.
In spite of continuing challenging market conditions, UAB recorded a net profit of AED 225 million for the nine months ended 30 September 2011.
Paul Trowbridge, the Bank's Chief Executive Officer, commented on the progress made during the year, "The Bank has moved proactively to address issues arising from a very difficult credit environment by focusing more heavily on certain market sectors. These actions have driven the encouraging increase in revenues, whilst enabling the Bank to take advantage of future opportunities. The Bank continues to enjoy a very strong relationship with its traditional customer base, as well as expanding its reach through new premises and product offerings for both corporate and retail customers."
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