The Banker Middle East, the highly regarded banking magazine has awarded the United Arab Bank with the “Best Trade Finance House award” in MENA region for the second time. The award has been formally presented to Bank in a special ceremony held at Dubai on 22nd June.

The UAB’s CEO commented: “While highlighting the bank’s commitment towards excellence, the winning of this prestigious award also emphasize our efforts and dedication in developing Trade Finance Business while keeping in mind the needs of our valued customers. It has not only strengthens the bank’s reputation as an Excellent Trade Finance Service provider but also proved that we are providing innovative solutions that market requires and meet our customers’ needs.”

Over the two past years the United Arab Bank has made the procedure of offering Trade Finance to its customers in a much simpler and speedy way with a superior level of service.

Mr. Shahid Baloch, EVP, Group Head – Commercial Banking also said on the occasion that “Trade finance makes up a very large and important element of our banking services offered to the corporate clients. We feel really proud on receiving such recognition from our clients and the Banker Middle East. This is the second time we have won this award and are also being awarded with Best Trade offering award for 2011 under the product category.”

Currently, UAB has a network of 14 branches and offices in UAE. It offers 24-hours ATM service with cheque and cash deposit facility.

The Commercial bank of Qatar has 40% interest in UAB. During the last year the United Arab Bank maintained its earnings momentum recording 10% net profit growth. Moody’s has rated the bank under the ‘Stable’ category.

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