Total assets for the Sharjah-based bank climb 22% to $5.85 billion driven by a 23% growth in loans, advances, and Islamic financing
United Arab Bank
Latest in United Arab Bank
Islamic Finance
UAE’s National Bonds expands Al Manassah sukuk trading platform with United Arab Bank partnership
Since its inception in 2013, Al Manassah platform has processed AED189 billion worth of transactions, with more than AED27 billion facilitated in 2023
UAE
United Arab Bank reports 65% jump in net profit in 2023 to AED255mn
The bank’s total assets grew 25 percent year-on-year in FY 2023 to AED 17.6 billion
Dubai
Dubai bar offers free drinks to women based on their weight – report
Under the deal, female customers get AED1 off the bill for every kilo they weight
Ahmad Mohammad Abu Eideh
UAE bank hires former StanChart senior exec as new CEO
United Arab Bank has announced the appointment of Ahmad Mohammad Abu Eideh as its new CEO
AI chat bot
Technology, AI to help UAE’s underbanked domestic helpers, says Rise co-founder
Rise co-founder Padmini Gupta said an AI-powered chat bot services 20,000 unique customers each week, largely drawn from the UAE’s large population of domestic employees
Entrepreneurs
Banks, SMEs need to find ‘middle ground’ over lending issues: Sheraa’s Najla Al Midfa
More bank support is needed for SMEs in the GCC, but the CEO says both sides need to agree on a common resolution that protects both sides
bank merger
United Arab Bank, InvestBank deny three-way merger reports
Invest Bank, UAB and Bank of Sharjah have dismissed media reports about a possible merger as ‘rumours’
