29 February 2012, Sharjah, UAE: The General Assembly of the Shareholders of United Arab Bank (UAB) approved the appropriation of profits for the year ended 31 December 2011 and distribution of a cash dividend equal to 20% of the paid up capital.
The generous dividend reflects UAB's strong financial performance for 2011 with a record net profit of AED 330 million and affirms UAB's commitment to provide value to shareholders for their ongoing support of the Bank.
Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of UAB stated, "The impressive financial performance by UAB in a challenging global economic climate reaffirms UAB's status as UAE's 'Bank of the Year'. The Bank has played an active role in supporting different sectors of the economy in the UAE and I am confident that we will continue to repeat this success story in 2012 with the same energy and enthusiasm."
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