United Arab Bank has appointed Shirish Bhide as Chief Executive Officer, effective June 1, 2022, following the departure of Ahmad Abu Eideh. The appointment signals the Sharjah-based lender's push into digital transformation and new revenue streams as UAE banking sector profitability improves.
Sheikh Faisal bin Sultan bin Salem Al Qassimi, Chairman of UAB, said he was "delighted to welcome Shirish to UAB and wish him all the best in executing UAB's ambitious growth strategy." Bhide said in his statement: "It is a great privilege for me to lead UAB and I would like to thank the Board of Directors for their trust." The appointment comes as the bank deploys its digital transformation strategy, explores new business development opportunities and works to maximize shareholder value. The role entails leading the bank's management team and steering its corporate, retail and Islamic banking operations across the UAE.
Bhide brings over 30 years of banking experience and deep expertise in corporate banking, credit risk and risk management. Most recently, he served as Group Head of Corporate, Commercial and International Banking at First Abu Dhabi Bank (FAB), where he progressed through several senior leadership roles including Group Chief Credit Officer. Before FAB, he held the position of Chief Credit Officer and Acting Head of Wholesale Banking at First Gulf Bank (FGB). Earlier in his career, he served as Head of Risk Management at National Commercial Bank in Saudi Arabia and as Chief Executive Officer of Citibank Uganda. Bhide began his career at Citibank in India in various roles across consumer and corporate banking segments. He holds a postgraduate diploma in Accounting and Finance from the London School of Economics and an MBA in Marketing from the University of Poona in India.
United Arab Bank, incorporated in 1975 and headquartered in Sharjah, offers comprehensive retail, corporate and Islamic banking services across the UAE. The bank is listed on the Abu Dhabi Securities Exchange and serves a growing commercial and industrial client base. Recent financial performance has been strong; the bank posted net profit of AED 438 million for fiscal year 2025, a 45 percent increase from AED 301 million in 2024. The bank has also strengthened its capital position, with a capital adequacy ratio of 20.4 percent, comfortably above regulatory requirements, and sharply reduced its non-performing loan ratio to under 3 percent from 8.2 percent at the end of 2022. Moody's upgraded the bank's credit rating to Baa2 with a stable outlook in recognition of its turnaround execution.
The appointment fits UAB's documented strategic direction. The bank has invested in digital infrastructure and partnerships to strengthen omnichannel capabilities, collaborated with Abu Dhabi's payments ecosystem and expanded branch presence in key commercial and lifestyle destinations. Bhide's background in corporate and commercial banking at major regional lenders positions him to execute the bank's growth ambitions while managing credit quality and risk. His experience across multiple jurisdictions and banking segments suggests capacity to balance the bank's retail expansion with its institutional focus. The hire reflects the board's confidence that his international background and local market knowledge can drive sustainable value creation during a period of improved regional banking profitability.
