Demonstrates commitment to the community and sustainable practices
Reaffirms Bank's commitment to transparency
Sustainability Report developed in-line with international standards
Abu Dhabi, 2 October 2013: Abu Dhabi Commercial Bank ("ADCB") today released its 2012 Sustainability Report, demonstrating the Bank's ongoing commitment to transparent disclosure and its genuine concern for social and environmental issues. The Sustainability Report details the Bank's approach to sustainability, discloses key performance successes and is designed to engage all stakeholders while at the same time promoting and achieving sustainable business objectives.
Martin Scott, Chief Marketing Officer, ADCB, stated, "At ADCB we are committed to sustainable development. As one of the largest banks in the UAE, we believe that it is our responsibility to reach a new level of excellence within the industry by disclosing on social and environmental performance. With the release of our second annual Sustainability Report, we aim to enhance our relationship with our key stakeholders and encourage greater dialogue and engagement between the Bank and its stakeholders."
He added, "Transparent and consistent reporting is a key element of stakeholder engagement, as it ensures that stakeholders understand how the Bank's strategy and sustainable and responsible business practices align with their expectations and support them to achieve their ambitions."
This year's annual sustainability report was reviewed by the Global Reporting Initiative (GRI) and satisfied the criteria set out in the GRI G3.1 framework for Sustainability Reporting at a "B" level.
The sustainability report identifies material sustainability issues which could negatively impact or positively support its stakeholders and discloses its performance on those issues through disclosure of practices and by providing key performance measurements on sustainability indicators. The open and transparent nature of the report means that the Bank also discloses areas that require further improvements to advance the Bank's sustainability progress. Furthermore, the report fulfils ADCB's pledge to the Abu Dhabi Sustainability Group to publish an annual report, as part of its membership within the group. ADCB's 2012 Sustainability Report is available online at: www.adcb.com/aboutus/sustainability
Stakeholders are encouraged to engage in further dialogue with the Bank by providing their comments and views through a feedback form, which can be easily downloaded at www.adcb.com/aboutus/sustainability or through the Bank's dedicated email address: sustainability@adcb.com
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About ADCB:
ADCB was formed in 1985 and as at 30 June 2013 employed over 3,000 people from 55 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 June 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 June 2013, ADCB's market capitalisation was AED 27 bn.
For further details please contact
Corporate Communications
Majdi Abd El Muhdi
E: majdi.a@adcb.com
© Press Release 2013
