Mar 03 2012
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ADCB Inaugurates Flagship Commercial Branch in Jebel Ali
ADCB opens first commercial branch serving SME customers in Jebel Ali Free Zone
Abu Dhabi, 3 March 2012:
Abu Dhabi Commercial Bank
") announced the inauguration of its newest branch in
Jebel Ali Free Zone
"), bringing the total number of branches across the UAE to 50.
The latest addition to ADCB 's branch network will be a dedicated comprehensive commercial branch catering to the needs of all companies operating in JAFZ , including multinationals and small and medium enterprises (SMEs). ADCB has launched a customised offering specifically designed for all Jebel Ali Free Zone companies including a trade finance platform (ProTrade) and a cash management platform (ProCash), plus SME products such as the ADCB 'BusinessEdge Pre-shipment Finance' for export oriented businesses and 'BusinessEdge Free Zone Platinum Account', a premium current account catering to free zone customers.
The new branch cements ADCB 's commitment to service excellence, and is in line with the Bank's strategy of offering convenient and comprehensive banking services for its corporate and SME customers, with dedicated expert personnel to serve commercial clients. The JAFZ branch and the SME sales and service centres are comprehensive banking centres fulfilling all banking needs for commercial clients from accounts, cash services, transactions, remittances, trade and working capital facilities, pre-shipment finance, commercial vehicle, construction equipment, medical and professional equipment loans.
ADCB has also set up ten dedicated SME sales and service desks at 14 key ADCB branches and are looking to expand this in the future to cover key commercial client concentrations across UAE. This is supplemented by four dedicated SME Centres - operating on a hub and spoke model.
About ADCB :
ADCB was formed in 1985 and as at 30 September 2011 employed over 3,800 people from 48 nationalities, serving over 480,000 retail customers and approximately 34,000 corporate and SME clients in 47 branches, 4 pay offices and 1 kiosk in the UAE and two branches in India. It is the third largest bank in the UAE and second largest in Abu Dhabi by assets, at AED 183 bn as at 30 September 2011.
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, project finance, property management services, and Islamic banking products.
ADCB is owned 58.08% by the Abu Dhabi Government through the Abu Dhabi Investment Council. Its shares are traded on the Abu Dhabi Securities Exchange. As at 30 September 2011, ADCB 's market capitalisation was AED 16billion.
JAFZ is Economic Zones World's flagship operation. It is one of the world's largest and fastest growing free zones. Established in 1985, JAFZ today is spread over an area of 48 sq. kms and is home to over 6400 companies, including over 120 of the Fortune Global 500 enterprises, from across the world. It is a leading driver of the burgeoning UAE economy. As one of the fastest growing free zones in the world, over the last four years, JAFZ has - Grown its customer base by over 60% and increased its revenue at an average of 34% year-on-year, contributing to Dubai's GDP at 25% on a year-to-year basis. It has sustained more than 160,000 jobs in the UAE through its companies and has accounted for more than 50% of Dubai's total exports. It also accounts for 25% of all container throughputs through the Jebel Ali Port and 12% of all air freight at Dubai International Airport & Accounted for 20% of all FDI inflow into the UAE.
For further information please contact:
ADCB Corporate Communications Department
Tel: +971 (0) 2 696 2380
Fax: +971 (0) 2 610 9852
© Press Release 2012
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