June 18 2013, Sharjah, UAE: United Arab Bank (UAB), UAE’s fastest growing bank has added another feather to its cap by winning the Best Domestic Retail Bank honor at the 2013 Banker Middle East Industry Awards. The award was received by Tom Smith, Executive Vice-President & Group Head of Retail Banking, during a ceremony held recently. The accolade is a testament to UAB’s growing Retail client base across the UAE.
This year almost 200 institutions were nominated across 55 categories and winners were chosen by the registered readers of CPI Financial products and services. Nominees were selected by a panel of financial experts who received a large number of votes from participants residing in the UAE. UAB was awarded on overall performance, its financial health, innovative products and best of services extended to its customers.
Commenting on the award Paul Trowbridge, CEO United Arab Bank, said: “The award we received today reinforces UAB's position as the fastest growing bank in the region, as demonstrated by our strong financial performance in 2012 and Q1 of 2013, which saw the net profit touch AED 120 million, another record for United Arab Bank that we expect to surpass in the coming quarters of 2013, supported by a significant contribution from the Retail business. We are now a truly local bank having catered to the UAE economy for the past 38 years and where almost half of our new customers are UAE nationals. Combining these factors with the proven benefits from the alliance with the Commercial Bank of Qatar, we expect United Arab Bank to continue on its successful journey throughout 2013 and beyond”
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