Abu Dhabi, 12 May 2013: Abu Dhabi Commercial Bank (ADCB), for the third year in a row has received recognition for its SME offering; winning Best New SME (Small and Medium Enterprises) product award in addition to this, the bank has been awarded the Best Cash Management bank and Best Trade finance bank by Banker Middle East Product Awards.
Mr. Nilanjan Ray, Head - Business Banking Division at ADCB, said: "We are delighted to have been awarded for our SME offering. We understand how important the SME sector is to the future development of the UAE economy and we are committed to increasing our support for this vital sector in the future."
Mr. Murali Subramanian, Head of Transaction Banking Group, said "It is a great honour to have received recognition from our customers for our Cash Management and Trade Finance offering. At ADCB we understand how ambitious are customers are and we have designed our banking products and services to support their business endeavours."
ADCB has always sought to offer its customers the most innovative and reliable financial services, at the highest global standards. Winning not one or two, but three prestigious awards highlights the success of ADCB's long-term strategy to be a market leader in Cash Management, Trade Finance, and SME banking services and our ability to compete with some of the world's leading banks in these spheres.
Over 670,000 votes were cast by subscribers of Banker Middle East and its sister publications, Islamic Business & Finance, WEALTH and Finance ME to determine the winners in each category.
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About ADCB:
ADCB was formed in 1985 and as at 31 March 2013 employed over 3,000 people from 55 nationalities, serving over 480,000 retail customers and approximately 38,000 corporate and SME clients in 50 branches, 3 pay offices and 2 branches in India and 1 branch in Jersey. It is the third largest bank in the UAE and second largest in Abu Dhabi by assets, at AED 180 bn as at 31 March 2013.
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 Abu Dhabi Government through the Abu Dhabi Investment Council. Its shares are traded on the Abu Dhabi Securities Exchange. As at 31 March 2013, ADCB's market capitalisation was AED 23 bn.
For further details please contact
Corporate Communications
Majdi Abd El Muhdi
E: majdi.a@adcb.com
© Press Release 2013
