Abu Dhabi, 30 October 2013: Abu Dhabi Commercial Bank ("ADCB") has received the accolade of 'Best Cash Management Bank in the UAE' from Euromoney, the leading international finance magazine. The award recognised ADCB's commitment to providing innovative financial solutions to its clients.
Commenting on the achievement, Isaac Thomas, Head - Cash Management at ADCB, stated, "By overcoming various challenges such as global macro-economic trends, higher customer expectations and accomplished competition from established banks, ADCB has established a standard in Cash Management that is the object of emulation in this market. This acknowledgement comes as a vote of confidence by our clients over our regional and global industry peers."
To be placed first in the category of 'Best Cash Management Award in the UAE' is a great recognition of the Bank's capability to provide customers with tailored cash management solutions, and compares well with its third place ranking in 2012. Mr. Thomas added, "We see this award not as the pinnacle of achievement, but as a harbinger of even greater things to come."
ADCB also placed third in the category of 'Best Cash Management Bank for the Middle East' and was ranked as the 'Best Regional Bank in the Middle East.' These accolades acknowledge ADCB's success and are evidence that despite an increasingly competitive landscape, the Bank has remained focussed on executing its core business strategy and maintaining the highest standards of trusted client advisory and solutions, as well as operation efficiency.
The Euromoney awards have been granted to ADCB based on customers feedback in a voting process carried out over two months earlier this year. The awards are truly meaningful to the Bank, particularly as it is common for UAE clients to bank with several major institutions for their transactional banking and cash management requirements
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About ADCB:
ADCB was formed in 1985 and as at 30 September 2013 employed over 3,000 people from 56 nationalities, serving over 500,000 retail customers and approximately 39,000 wholesale clients in 50 branches, 3 pay offices in the UAE and 2 branches in India and 1 branch in Jersey. It is the fourth largest bank in the UAE and third largest in Abu Dhabi by assets, at AED 175 bn as at 30 September 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, currency, derivative 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 30 September 2013, ADCB's market capitalisation was AED 26 bn.
For further details please contact
Corporate Communications
Majdi Abd El Muhdi
E: majdi.a@adcb.com
© Press Release 2013
