(MENAFN - Khaleej Times) United Arab Bank (UAB), UAE's fastest growing bank with record profit increase of 32% for the first 9 months of 2012, recently held its year-end Board Meeting at the new regional office in Abu Dhabi.
With a network of 20 branches across the UAE, UAB reported net profit of Dh298 million and operating profit of Dh382 million for the first nine months this year.
The meeting was called by Shaikh Faisal bin Sultan Salem Al Qassimi, Founder and Chairman UAB, to discuss and review the current year's performance and the outlook for 2013.
Shaikh Faisal welcomed the Board members and said: "These outstanding growth rates contribute tremendously to the vision of the bank's founders, will help us forge stronger ties with stake holders and set ourselves apart from other local banks and financial institutions. The opening of our new and up-market regional office in Al Khalidiya, Abu Dhabi will enable us to offer our discerning customers a superior banking experience."
Paul Trowbridge, Chief Executive Officer of UAB, said, "I appreciate the efforts of all the stakeholders and the time and energy they have devoted in making UAB the bank of choice for its target segment of customers.
The bank is poised for another exciting year in 2013 where we will increase our footprint across Dubai and Abu Dhabi with 10 additional branches and 20 off-site ATMs. In addition, we are proudly looking forward to shifting to our new headquarters in Sharjah in the first quarter of 2013."