Quotes: US 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
 Sep 22 2014 - Kuwait make strong start at AsiadArab Times
(MENAFN - Arab Times)  KUWAIT CITY Sept 20 (Agencies): Kuwaiti national teams for volleyball handball and basketball had a powerful start at the 17th Asian Games which officially started two ...

 Sep 22 2014 - West Ham 'inflict' fresh EPL misery on LiverpoolArab Times
(MENAFN - Arab Times) LONDON Sept 20 (AFP): Liverpool suffered a second successive Premier League defeat after losing 3-1 away to West Ham on Saturday. Brendan Rodgers's side had lost 1-0 at home to ...

 Sep 22 2014 - Ronaldo Bale combine for 5 in 8-2 routArab Times
(MENAFN - Arab Times) MADRID Sept 20 (AFP): Cristiano Ronaldo scored a hat-trick as Real Madrid equalled their biggest ever away win in La Liga with a 8-2 thrashing of Deportivo la Coruna on ...

 Sep 22 2014 - N.Korean lifter breaks recordArab Times
(MENAFN - Arab Times) INCHEON South Korea Sept 20 (Agencies): Hosts South Korea were the Asian Games' surprise first-day medal leaders on Saturday but they had to share the limelight with China and ...

 Sep 22 2014 - 'Enjoying the return to music'Arab Times
(MENAFN - Arab Times) NEW YORK Sept 20 (AFP): Releasing a new album near his 80th birthday Leonard Cohen cheekily addresses his age in the very first song intoning 'It's not because I'm old ... I ...

 Sep 22 2014 - QFC Authority Seeks Public View on Rule ChangesQatar News Agency
(MENAFN - QNA) Qatar Financial Centre (QFC) Regulatory Authority has released a consultation paper seeking public comment on proposed rule changes that amend the approved individuals regime (AI ...

 Sep 22 2014 - $88.5 Million Grant from Qatar for 'Recovery, Reconstruction' in DarfurQatar News Agency
(MENAFN - QNA) Qatar signed Monday an agreement at the Permanent Mission of the State of Qatar to the United Nations, to provide a grant of $88.5 million to the United Nations multi-partner trust ...

 Sep 22 2014 - HE the Premier Meets US AmbassadorQatar News Agency
(MENAFN - QNA) HE the Prime Minister and Interior Minister Sheikh Abdullah bin Nasser bin Khalifa Al-Thani met on Monday morning with HE Ambassador of the United States of America to Qatar Dana ...

 Sep 22 2014 - Kyrgyzstan Parliament Speaker Meets Qatari AmbassadorQatar News Agency
(MENAFN - QNA) Kyrgyzstan Parliament Speaker Asylbek Jeenbekov met Monday with Qatari Ambassador to Kyrgyzstan Mohammed Arar Omeer Alramazani Al-Nuaimi. They discussed bilateral relations and the ...

 Sep 22 2014 - CMU Qatar Opens 11th Year With Record 427 StudentsQatar News Agency
(MENAFN - QNA) Carnegie Mellon University in Qatar welcomed 112 new students for the 2014-2015 academic year, growing from an inaugural class of 41 students in 2004 to 427 students from 40 different ...

more...


 






Google

 
 

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help