Abu Dhabi, December 16, 2012

Abu Dhabi Commercial Bank (ADCB) today announced the implementation of a Cash Management mandate with Atlantis, The Palm in Dubai. To celebrate the continued partnership between ADCB and Atlantis, ADCB are to provide an innovative Cash Management mandate to enhance operational efficiencies at Atlantis. 

The mandate will provide a robust system to synergise existing accounts receivables and payables.  ADCB is also implementing its proprietary Host to Host solution at Atlantis, which will enable it to further streamline the current payment and reconciliation process.  The innovative "Host to Host" solution allows a secure and seamless transfer of all payment instructions and account statements. 

Collin Fraser, Head of Wholesale Banking at ADCB commented: "ADCB is delighted to have been mandated to deliver a state-of-the-art Cash Management solution for Atlantis The Palm, a key relationship partner. With this solution, Atlantis is able to fully automate and streamline transaction processing and reconciliation activities using a straight-through file link-up between our electronic channels, and Atlantis' systems. As such Atlantis benefits significantly in terms of efficiency and will experience consistent service at minimal error rates."

Mr. Fraser noted: "Such automated implementations are typically initially quite complex integration exercises. It is a tribute to the excellent teamwork and leadership between Atlantis and ADCB that this implementation was done in record time and Atlantis is now fully benefiting from a world-class solution which delivers capability commensurate with an organisation of Atlantis' pedigree."

Conor Lawler, Vice President - Finance at Atlantis The Palm, commented: Taking cash management to the next level, we are delighted to be at the leading edge in partnership with ADCB and look forward to more innovation and efficiencies in the future."

ADCB consistently strives to offer clients innovative solutions, as such the transaction banking proposition is growing in sophistication and offers the client the ideal synergy of a highly regarded UAE bank and sophisticated banking solutions that are comparable to the best Cash Management banks. ADCB was recently ranked in the top three best Cash Management banks in the Middle East, in a Cash Management poll by Euromoney.  ADCB recognize that this would

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About ADCB:
ADCB was formed in 1985 and as at 30 September 2012 employed over 3,600 people from 54 nationalities, serving approximately 470,000 retail customers and over 36,000 wholesale clients in 49 branches, 4 pay offices in the UAE 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 182 bn as at 30 September 2012.

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 2012, ADCB's market capitalisation was AED 18 bn.

About Atlantis, The Palm, Dubai
Atlantis, The Palm is a 1,539 room, ocean-themed destination resort located at the centre of the crescent of the man-made Palm Island in Dubai.  This US$1.5 billion joint venture project was developed with Dubai Government owned, Istithmar. Opened in September 2008, the resort utilises the 46 hectares site with 17 hectares of water park amusement, further marine and entertainment attractions and a collection of some of the most renowned restaurants including Nobu, Ronda Locatelli, Ossiano and Rostang-The French Brasserie.  Atlantis, The Palm offers an unprecedented entertainment centre, an impressive collection of luxury boutiques and shops and extensive meeting and convention facilities.  It is home to one of the largest open-air marine habitats in the world, with some 65,000 marine animals in lagoons and displays including The Lost Chambers, a maze of underwater corridors and passageways providing a journey through ancient Atlantis.

For more information, please contact:
Corporate Communications
MajdiAbd El Muhdi
E: majdi.a@adcb.com

© Press Release 2012