Search past winners/finalists

Union National Bank - Company of the Year

Gold Stevie Award Winner 2016, Click to Enter The 2017 Stevie Awards for Sales and Customer service

Company: Union National Bank, Abu Dhabi, United Arab Emirates
Company Description: Union National Bank, a leading Bank in UAE, has more than 100 branches across UAE, Egypt, Qatar, Kuwait & China. It is certified to ISO 9001,ISO 14001,OHSAS 18001,ISO 20001, ISO 27001, ISO22301 and independently verified to follow the guidelines of ISO 31000, ISO 26000 & ISO 10002. UNB has won top most Business Excellence awards in UAE as well scores of other regional and international awards.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Company of the Year - Financial Services - Large

Nomination Title: Union National Bank

Tell the story about what this nominated organization has achieved since 1 January 2016 (up to 650 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms.

Union National Bank (UNB) was incorporated in the Emirate of Abu Dhabi in 1982 as a Public Joint Stock Company. It is owned by the Governments of Abu Dhabi (50%) and Dubai (10%) while 40% held by public.

UNB has a network of 74 branches across UAE supported by over 300 strategically located ATMs and Cash Deposit machines. Internet, Telephone and Mobile banking complement the traditional delivery channels. UNB Group has staff strength of around 1,800 from a mix of over 30 nationalities.

From a standalone Bank at the turn of the century, UNB has grown into a Group entity. UNB’s subsidiaries include Union Brokerage Company, Al Wifaq Finance Company, Al Wifaq Properties and Injaz Marketing Management Company. UNB has expanded its footprint in the region with a branch in Qatar and Kuwait. UNB is also the first bank from UAE to open a representative office at Shanghai that is being upgraded into a full-fledged branch. UNB’s Egypt has a network of 42 branches.

UNB's Vision and Mission and shared core values (below) provide strategic direction:

Vision (2010 to 2018)
To be the best in class for the banking industry in the UAE
Mission Statement (2016 to 2018)
To be first and best bank of choice for all stakeholders
Shared Core Values
Customer Focus
Nurturing Staff
Integrity & Transparency
Team Spirit
Continuous Improvement
Best Practice
Responsible Community Membership
Business Groups

UNB provides conventional and Islamic products & services through the following business groups:

Retail Banking
SME Business Banking
Corporate and Commercial Business
Private Banking & Wealth Management
Syndications & Structured Finance
Financial Institutions Group
Treasury & Investment Banking
Islamic Banking

UNB’s partnership with 223 correspondent banks in 53 countries provides its clients access to the world financial markets.


The Bank’s governance culture is built on the principles of responsibility, accountability, transparency, sustainability and quality. The governance principles are delineated in the corporate standards manual which in essence sets the tone and standards for the organisation’s business practices.

The bank’s governance system underpins prudent decision making on the basis of adequate and appropriate information avoiding conflict of interest, effective communication between the board and the management, fair compensation policy with sustainable long term focus, strong relationships with shareholders, corporate social responsibility and adherence to the applicable laws and regulations.

Board of Directors

The Bank’s Board of Directors consist of 9 members with significant experience from diverse backgrounds. The Board is assisted by board sub-committees viz. Audit Committee, Remedial Assets Committee, Nomination & Remuneration Committee, Risk Management Committee and Credit Committee to perform delegated responsibilities as delineated in their respective charters.

Internal Control Framework

The Bank has established robust Comprehensive Capital Assessment Program (CCAP) which includes assessing overall risk profile, undertaking stress testing to shock scenarios and allocating the capital under Basel Pillar 2 to ensure financial solidity and long term sustainability.

Cyber Crime & Fraud Risk

The Bank adopts dynamic fraud risk response measures and enhanced preventive and detective control procedures, system capabilities and tools to combat cybercrime and fraud risks. During 2016 actual and potential operational loss owning to cyber-crime and fraud risk was not material.

Financial Results

UNB has delivered consistently good financial results through prudent and organic growth as can be evidenced through the following links as well as Annexure 1:

Annual Report 2016">

Investor Presentation

Credit Ratings

UNB’s sound Credit Rating can be are viewed through the following link:">

Awards and Accolades

UNB has won a number of Awards and Accolades from prestigious third party institutions as evidenced through link below:">

Corporate Social Responsibility and Sustainability

Please click on the following for a detailed list of CSR initiatives:">

UNB is Gold Community member of Global Reporting Initiative committed to publish its 2016 Sustainability Report as per the new GRI G4 Standards (Annexure 2)

In bullet-list form, briefly summarize up to ten (10) of the chief accomplishments of this organization since the beginning of 2016 (up to 150 words).

-During 2016, UNB Group’s operating profit was AED 2,354 million while the operating income was AED 3,487 million.
-Loans and advances increased by 8% in 2016 to AED73.7 billion.
-Customer Deposits grew by 4% to AED77.5 billion.
-The investment portfolio increased by 7% to AED15.8 Billion
-Total assets increased by 2% to AED103.9 billion.
-UNB concluded issuance for USD600 million of 5-year senior unsecured Bonds under its Euro Medium Term Note program.
-Non-interest income increased by 6% to AED 858 million due to higher gain on dealing in foreign currencies & derivatives, net investment income and higher fair value gain on investment properties.
-The impairment charges decreased by 10% due to write backs driven by enhanced efforts in recovery, viable restructurings and stable provisions.
-The Bank continued to enjoy consistently good credit ratings from internationally reputed agencies such as Fitch, Moody's and Capital Intelligence.

Of the following measures of success, which ONE do you want the judges to most appreciate about your organization's story of achievement since the beginning of 2016?

Fast Growth