Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

United Arab Bank launches online trade portal for Large Corporates and SMEs  Join our daily free Newsletter

MENAFN Press - 05/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN Press) An online trade portal recently launched by United Arab Bank, the fastest growing bank in the Middle East, will transform the ease and speed with which corporate customers can complete an array of trade finance transactions



UAB Trade Portal provides a reliable, fast and secure gateway for UAB customers to create, track and report their organizations' transactions. The interactive, web-based platform also offers a range of convenient reporting features, with an intuitive, user friendly interface that is available 24 x 7



The portal enables corporate customers to seamlessly initiate products online in a fully secure environment, such as commercial and standby letters of credit, shipping and bankers guarantees, and financial requests. Electronic reports and statements allow for transactions to be monitored and amended remotely, without the need to visit a bank branch



The new service will further augment UAB's award-winning trade finance offering. UAB was adjudged 'Best Trade Finance Bank UAE, 2013' by the UK's International Finance Magazine at a recent award ceremony in Dubai, where it also won 'Best Home Finance Provider'. In recent years the bank has won several more accolades recognising the quality of its services to corporates and SMEs.



Commenting on the launch of the portal, Howard Kitson, Executive Vice President - Wholesale & International Banking, said: "We are committed to achieving excellence in everything we do to be able to meet the growing demands of our customers. The industry recognition we have received confirms our continuing efforts to stay ahead of our competition by providing the best product propositions and innovative solutions to our Corporate and SME segments, backed by impeccable service standards.



The portal and its features were introduced by UAB's Corporate Banking Product Development unit to a group of corporate customers and received much positive feedback for its potential to improve efficiency and productivity. JBF RAK LLC, an industry leader in packaging products, is the first client to have signed up to and implemented the service. Going forward, UAB plans to conduct a workshop on the portal for its corporate and SME customers to help them utilize the platform to its full potential


About UAB
United Arab Bank (UAB) was established in 1975 as a joint venture between UAE investors and Societe Generale. By the end of 2013, the bank will be operating with a network of 30 branches and offices spread across the UAE with its headquarters in Sharjah. UAB offers a range of financial services in both Corporate and Retail and is acknowledged as a leading solutions provider to the growing commercial and industrial base across the seven emirates. Through the provision of a comprehensive range of Corporate Banking, Retail Banking, Trade Finance, SME Banking and Treasury services, UAB is the Bank of choice among major corporate clientele segments in the UAE. With the launch of its 'Sadara' premium banking service, Islamic Banking Services and 'UAB Rewards' loyalty programme, the Bank has grown its retail customer base, aiming to expand further. All these initiatives and a consistent year on year performance has positioned UAB as one of the fastest growing banks in the region. The bank is ranked 23rd amongst the top listed companies in the UAE and is one of the top 50 banks in the GCC in terms of market capitalization. UAB announced a record net profit of AED552m for the year ended 31 December 2013, an increase of 35% over 2012 and the highest annual net profit ever reported by UAB. In December 2007, UAB became part of a GCC regional banking alliance upon the acquisition of 40% interest by The Commercial Bank of Qatar (CBQ), Qatar's largest private sector bank. United Arab Bank's strong financial performance in 2013 is also indicative of the benefits gleaned from its strategic alliance with the Qatari Bank. The Commercial Bank of Qatar has a similar alliance with National Bank of Oman (NBO), which has positioned all three banks more strongly for future growth. Most recently, the Commercial Bank of Qatar acquired a 70.84% stake in Alternatifbank in Turkey, enabling all four banks involved in these strategic alliances to offer integrated services across the GCC and Turkey, including cross border services for corporate banking and capital markets; support on trade services; private banking services; and syndicated loans.

 


MENAFN Press




  MENA News Headlines
 Aug 29 2015 - Abraaj exists Condor Travel stake to CarlyleMENAFN
(MENAFN) Dubai-based Abraaj Group has announced the signing of an agreement to exit its stake in Condor Travel to The Carlyle Group.The exit, through Abraaj's Latin American Fund, marks the first ...

 Aug 29 2015 - GCC construction contracts to drop to USD194b in 2015MENAFN
(MENAFN) Construction in the GCC will increase in value despite a slight dip in the overall contract awards this year caused in part by cheap oil, according to an industry expert.The man behind the ...

 Aug 29 2015 - Middle East business confidence continues to drop in Q2MENAFN
(MENAFN) Business confidence in the Middle East continued to fall in the second quarter of 2015, but not as quickly as it had in the first three months of the year, according to a new survey.The ...

 Aug 29 2015 - 9 hours battling death at sea off the Libyan coastThe Peninsula
(MENAFN - The Peninsula) Pakistani teenager Shefaz Hamza spent nine hours at sea clinging to the wreckage of a migrant boat that sank off Libya. By the time the coast guard arrived his mother and ...

 Aug 29 2015 - Qatar Exchange index jumps 3.08pcThe Peninsula
(MENAFN - The Peninsula) Qatar Exchange (QE) index finished in the green yesterday, after a sharp rise in all sectors. The market gained 3.08 percent or 337.84 points to reach 11,295.46. The market ...

 Aug 29 2015 - Arabs brace for weak oil for rest of 2015The Peninsula
(MENAFN - The Peninsula) A second oil price rout of 2015 has forced Arab Opec members to cut their price expectations for this year, showing they are prepared to tolerate cheaper crude for longer to ...

 Aug 29 2015 - Lebanon- Hezbollah, Christian allies boycott cabinet meetingThe Peninsula
(MENAFN - The Peninsula) The Lebanese Shia group Hezbollah and allied Christian politicians boycotted a cabinet meeting yesterday, a sign of rising political tensions that have paralysed Prime ...

 Aug 29 2015 - IS kills two generals in IraqThe Peninsula
(MENAFN - The Peninsula) suicide attack claimed by the Islamic State (IS) group killed two Iraqi generals yesterday in the key battleground province of Anbar, as the militants made gains in ...

 Aug 29 2015 - Iraq- At least 11 Daesh Militants Killed in AnbarThe Peninsula
(MENAFN - The Peninsula) 11 Daesh militants, some of them belonging to foreign nationalities, were killed in a pre-emptive attack against a hideout of the organization east of Ramadi city, in Anbar ...

 Aug 29 2015 - At least 78 dead in Libya refugee boat disasterThe Peninsula
(MENAFN - The Peninsula) At least 76 people have died after a ship carrying hundreds of migrants and refugees sank off the coast of Libya, the Libyan Red Crescent said Friday. The United Nations ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help