Abu Dhabi - Abu Dhabi Commercial Bank (ADCB) announced that it has been awarded the “Best Cash Manager” in the UAE (Non-FI category) in 2016 by the Euromoney Cash Management Survey, the benchmark survey for the global cash management industry. The survey receives responses from the leading cash managers, treasurers and financial officers worldwide, it is the most comprehensive survey on the cash management business across the different markets globally.
In addition to being the number one “Cash Management Bank” in the UAE, ADCB was ranked 3rd place in the Middle East and 16th place globally.
Isaac Thomas, Head of Transaction Banking at ADCB, said: “ADCB is honored to have been awarded this prestigious recognition. Cash Management as a business owes its success to a clear and sustained strategy that underpins itself on continuing investments in technology and innovation, a unique customer service proposition and a loyal clientele. In the UAE, the cash management proposition has proved to be an inherent business to ADCB because of its focus on the granular and working capital businesses. This recognition is a great customer validation of our continuing efforts in this regard. It is ADCB’s endeavor to keep innovating and providing excellent services to our customers.”
The poll assessed client feedback on 20 key criteria relevant to cash management, responses were on the basis of cash management locally, regionally and globally. ADCB was very highly rated on most of the 20 key criteria, with special mention for its quality of electronic banking, customer service quality and the payments and collections products.
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About ADCB
ADCB was formed in 1985 and as at 30 June 2016 employed over 4,500 people from 73 nationalities, serving retail customers and corporate clients in 48 branches, 3 pay offices and 2 branches in India, 1 branch in Jersey and representative offices in London and Singapore. As at 30 June 2016, ADCB’s total assets were AED 241 billion.
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 and currency derivatives and Islamic products, project finance and property management services.
ADCB is owned 58.08% by the Government of Abu Dhabi (Abu Dhabi Investment Council). Its shares are traded on the Abu Dhabi Securities Exchange. As at 30 June 2016, excluding treasury shares, ADCB’s market capitalisation was AED 31 billion.
© Press Release 2016
