Business : UAB profit up 7.14%; assets rise to Dh10b

Sharjah-based United Arab Bank, or UAB, on Wednesday said its net profit for 2011 increased to Dh330 million while operating income jumped by 22 per cent to Dh401 million for last year.

The bank also announced opening of four new branches in the country and a new headquarters building in 2012.

The banks total assets increased beyond Dh10 billion for the first time in its 37 year history. As at 31 December 2011, the total assets reached Dh10.8 billion, a 40 per cent increase over the Dh7.7 billion reported in the previous year.

* username: rupertbu