United Arab Bank appoints Faisal Al Najjar as Senior Vice President
- United Arab Emirates: Thursday, March 07 - 2013 at 13:21
United Arab Bank (UAB), UAE's fastest growing bank has appointed Faisal Al Najjar as Senior Vice President and Head of Liabilities. Faisal - a local banker started his career with HSBC joining Mashreq Bank in 2007.
Welcoming Faisal at UAB, Tom Smith, Executive Vice-President & Group Head of Retail Banking, said: "UAB is delighted to appoint Faisal who comes with a wealth of experience. We are confident that Faisal's expertise will add significant value to the bank and further strengthen UAB's Emiratisation drive."
Meanwhile, Faisal added: "I am excited about the opportunity and to be part of the UAB Retail family which is one of the most dynamic in the country. As a local bank, UAB is uniquely positioned to meet the individual requirements of its customers with its innovative products and customized service."
United Arab Bank (UAB) was established in 1975 as a joint venture between UAE investors and Societe Generale. The Bank is operating with a network of 20 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 Dhs410m for the year ended 31 December 2012, an increase of 24% over 2011 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 (Cb), Qatar's largest private sector bank. United Arab Bank's strong financial performance in 2012 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. UAB is not only the fastest growing local bank but also is one of the most profitable. The Bank has the strategic vision and momentum to continue on its growth trajectory, as its executive team seeks to create long term value for its shareholders.
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