Sharjah, UAE: United Arab Bank P.J.S.C. ("UAB" or "the Bank") announces its financial results for the six months ended 30 June 2011.
In ongoing challenging market conditions, UAB recorded a net profit of AED 133 million for the half-year ended 30 June 2011.
Commenting on the first half's results, Paul Trowbridge, the Bank's Chief Executive Officer, said: "The Bank registered strong first half results and is well positioned to take advantage of expected improvements in the business sector and capitalize on future growth opportunities. From an operational perspective, despite a continued challenging credit environment, our half year results have seen a return to top-line growth in lending, based on our strong core banking franchise, long-standing customer relationships, new product offerings in both corporate and retail segments, and our staff expertise."
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