Abu Dhabi, 21 May 2014: Abu Dhabi Commercial Bank (ADCB) announces the implementation of a new Cash Management mandate with Abu Dhabi Finance (ADF), a leading home finance provider in the UAE, that will boost ADF's internal efficiency. As part of the agreement, ADF will capitalise on ADCB's experience to enhance its cash management system and will employ ADCB's ProCash service, a state of the art cash management platform.

The new system will help to streamline ADF's wide range of electronic banking services, including for example, the on-site printing of automated cheques. ADF has identified ADCB as one of its preferred banks and by utilising the ProCash system ADF will ensure accurate and efficient cash management when servicing their clients.

Colin Fraser, Head of Wholesale Banking Group at ADCB, said: "We are honoured to be the bank of choice for ADF, ahead of other local and international financial institutions.  We are committed to provide the best solutions to our clients and ADCB has invested in state of the art Cash Management products and services. Today, this relationship further demonstrates the superior service that ProCash offers and we are certain that the simplicity and efficiency of the ProCash platform will undoubtedly impact ADF's overall performance in a positive manner. ProCash has become an essential corporate banking portal that makes corporate internet banking both convenient and fast."

Chief Executive Officer of ADF, Christopher Taylor said: "Embedding this state of the art cash management system is an important part of the continuous improvement of our client service by ensuring accurate and efficient cash management. We are working with ADCB on areas such as cheque automation, electronic bulk payments and funds transfers. We have also recently moved to the new Central Bank Direct Debit System and this will give us an alternate collection method for repayments."

ADCB always endeavours to offer its clients with effective reliable and innovative solutions. The bank was recently awarded the 'Best Bank in the Middle East for Cash Management' by Global Finance and the 'Best Domestic Cash Management Bank in United Arab Emirates' by the Asian Banker Awards. These awards come as a testimony to ADCB's leading-edge capabilities to cater to the working capital needs of its clients.

About ADCB:
ADCB was formed in 1985 and as at 31 March 2014 employed over 4,500 people from 57 nationalities, serving over 542,000 retail customers and more than 41,000 corporate and SME clients in 50 branches, 3 pay offices and 2 branches in India, 1 branch in Jersey and a representative office in London.  As at 31 March 2014, ADCB's total assets were AED 186 bn.

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 2014, ADCB's market capitalisation was AED 38 bn. 

About Abu Dhabi Finance:
Abu Dhabi Finance is a leading mortgage provider in the United Arab Emirates (UAE), providing individuals and businesses with the most relevant real estate financial solutions.

The company was founded in 2008 as a private joint stock company and the current shareholders are Mubadala Development Company PJSC, Aldar Properties PJSC and Abu Dhabi Commercial Bank (ADCB). Abu Dhabi Finance has grown from strength to strength. This partnership brings years of local financial knowledge and real estate expertise, combined with the most solid financial backing in the UAE and a tangible sense of corporate social responsibility.

Abu Dhabi Finance offers innovative financial solutions ranging from residential and commercial mortgages to financial support services. This expertise, coupled with outstanding client service that sits at the heart of everything we do, has translated into numerous client service and innovation awards since our launch. In 2013, Abu Dhabi Finance became the latest recipients of "The Banker Middle East" awards, winning Best Home Finance Company and Best Home Finance Product. Abu Dhabi Finance has also won the Stevie's award for Customer Service and the President's Award for Customer Experience Management for the UAE Customer Service Week STAR Awards.

In 2013, Abu Dhabi Finance expanded its footprint to Dubai, bringing its unique combination of world-class professionalism and intimate client care to the market.

Abu Dhabi Finance encourages its clients to aspire to the highest levels of service and to benchmark their expectations against the best providers internationally. 

For further information please contact:
Newgate Communications
Habib Bacha
Mobile: +97150 1113799
Email: habib.bacha@newgatecomms.com

© Press Release 2014