April 18 2013, Sharjah, UAE: United Arab Bank P.J.S.C. announces its financial results for the three months ended 31 March 2013.
UAB, one of the fastest-growing banks in the region, announces a net profit of AED 120 million for the first three months of the year, an increase of 60% over the same period in 2012 and the highest quarterly net profit ever reported by UAB.
The Bank’s Chairman, Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, said “The Bank’s outstanding performance in 2012 has continued into the first quarter of 2013, delivering a record net profit in the three month period. UAB remains committed to its growth strategy of building a Bank which offers true value to our customers, shareholders and partners”.
Paul Trowbridge, the Bank’s Chief Executive Officer, commented on the year-to-date performance, “Growth has been well supported through our expanding branch network and improved product offerings. We are now a truly local bank 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 UAB to continue on its successful journey throughout 2013 and beyond.”
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