ADCB awarded two prominent awards by the Asian Banker

Press release

Published May 4th, 2014 - 04:59 GMT

Al Bawaba

At the Asian Banker Awards ceremony, held on Wednesday April 30^th, 2014 in Dubai, Abu Dhabi Commercial Bank (ADCB) received two prestigious awards; “Best Domestic Cash Management Bank in United Arab Emirates” and “Best Deposit Product Business in Middle East Award 2014”.

On the occasion, Colin Fraser, Head of Wholesale Banking at ADCB said: “ADCB continues to perform at the very highest level within the industry, resulting in a momentous few years for the Bank. These awards prove our leading position in the industry through delivering customers with new and innovative products and services.”

Murali Subramanian, Head of Transaction Banking Group, said “It is a great honour to have received recognition from our customers for our Cash Management offering. At ADCB we understand how ambitious our customers are and we have designed our banking products and services to support their business endeavours.”

On winning the “Best Deposit Product Business in Middle East Award 2014”, Amr Al Menhali, Head of ADCB Islamic Banking said: “We are proud to have won this prestigious international award for the Millionaire Destiny Savings Account (MDSA) which continues to help increase savings habits among UAE residents with thousands of new customers opening an account every month. We offer a unique experience with MDSA, allowing customers the opportunity to win prizes for simply maintaining an average balance of only AED 5000. Account holders chances at winning increase with every additional AED 1000. I would like to thank all of our customers for continuing to use our products and services and making ADCB Islamic Banking one of the major Islamic banking providers of Shari’ah compliant products and services in the UAE.”

The scoring for the award is based on several crucial elements, such as growth in client base, transaction volume and value, profitability and revenue growth, the range of unique features of products and services offered by the bank, operational and platform capabilities, and key achievements and deals done in the year under review. The scoring is also based on a survey of all domestic banks based on overall satisfaction, primary provider, sustainable relationship building flexibility in pricing and documentation, local support capabilities and value for price quoted to domestic banks in the business.

Background Information

Abu Dhabi Commercial Bank

ADCB was formed in 1985 and today after integration employs over 3,350 people from over 45 nationalities, serving approximately 590,000 retail customers and over 20,000 wholesale clients. It is the third largest bank in the UAE and second largest in Abu Dhabi by assets, at AED 163.7 billion as at March 31st, 2010.

ADCB is a full-service commercial bank which offers a wide range of products and services such as retail banking, wealth management, private banking, corporate banking, commercial banking, cash management, investment banking, corporate finance, foreign exchange, interest rate, currency, derivative, Islamic products, project finance and property management services.

ADCB is owned 64.8% by the Abu Dhabi Government through the Abu Dhabi Investment Council. Its shares are traded on the Abu Dhabi Securities Market.

ADCB has won the Silver class category of The Sheikh Khalifa Excellence Award (SKEA) for the finance sector in November, 2009. In February 2010, ADCB won The World Finance Corporate Governance Award for “Best Corporate Governance in the UAE” and was recently named “Best Retail Bank in the UAE and GCC 2010” by The Asian Banker magazine in March 2010.