Under the patronage of HH Sheikh Ammar Bin Humaid Bin Rashid Al Nuaimi, Crown Prince of the Emirate of Ajman, United Arab Bank (UAB) today re-opened its branch in Ajman.

The new branch is situated in a prime strategic location in GMC building on Ajman’s Sheikh Zayed Road. It offers both conventional and Islamic banking services to retail customers.

The event was attended by UAB’s Brand Ambassador, the legendary Footballer, Captain of the 2006 World Cup Winning Team and now Captain of Al Ahli Football Club in Dubai, Fabio Cannavaro who helped open the branch with an amazing ‘kick-off’ through the main entrance of the new branch of United Arab Bank – one of the UAE’s oldest and longest established banks. The event attracted a large attendance of VIP’s, customers, and children who took this unique opportunity to meet with the Crown Prince of Ajman and with Cannavaro. The crowd watched in astonishment as Cannavaro skillfully displayed all the talent that helped him secure Italy’s World Cup in 2006.

In his statement to the press, Paul Trowbridge, UAB’s Chief Executive Officer, said: “Today’s opening showcases our commitment to create and maintain a major banking entity capable of keeping up with the challenges of growing economic demands and customer requirements across all the seven Emirates, aiming to support the economic development of the UAE and its people.” Commenting on Fabio Cannavaro’s presence and brand ambassadorship, he also added: “Fabio’s presence with us today is a symbol of our shared unwavering commitment to excellence, our common pledge for success, and our joint vision and passion to win. He is a perfect fit to synergize with our brand. To all of us, sport is about partnership, teamwork, and discipline, and so is banking. We believe that sport plays an integral role in today’s society, promoting values such as dedication, determination, competition, endurance, and good sportsmanship, which is in line with our commitment to being part of and supporting the community and our proud nation. For United Arab Bank, this is a translation of the Bank’s commitment to the vision of the Leadership of the UAE for promoting a fit and healthy young nation.”

Fabio Cannavaro, the world football champion who led the Italian team to a stunning victory in the 2006 World Cup and who opened the UAB Branch with a powerful right kick said: “I am proud to be here today to open this branch for United Arab Bank, a great local bank with fantastic products who have been providing excellent service to their Customers over the last 36 years.”

Tom Smith, UAB’s Executive Vice President, Group Head – Retail Banking, observed: “Football is the most popular sport in the UAE and we are excited about this collaboration with Fabio Cannavaro. He has previously inaugurated our branches on Sheikh Zayed Road in Dubai and in RAK. His presence demonstrates our commitment to innovation and our growing appeal to the youth of the UAE. Our branch expansion will translate into greater reach and more efficient service, providing convenient access to UAB’s comprehensive range of Conventional and Sharia’a compliant products and services.”

UAB has a network of fourteen branches and offices throughout the UAE. It offers 24-hour ATM service incorporating cash and cheque deposit facility.

The Bank’s ambitious branch network expansion program includes, in addition to the four new branches opened lately in Sharjah Corniche, Fujairah, Sharjah Industrial, and Ras Al Khaimah, one more branch to be opened soon in Jebel Ali. UAB is currently refurbishing all existing branches with a view to modernize its image and better serve its customers and will be opening 7 additional branches across all the seven Emirates in 2011.

UAB became part of a GCC regional banking alliance in December 2007 upon the acquisition of a 40% interest in UAB by The Commercial Bank of Qatar (Cb), Qatar’s largest private sector bank. With the Commercial Bank of Qatar concluding a similar alliance with National Bank of Oman (NBO) two years previously, all three banks are more strongly positioned for future growth.

In a challenging financial environment, United Arab Bank maintained earnings momentum recording net profit growth of 10% for the year ended 31 December 2010. the Bank is rated by Moody’s with a stable outlook.

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