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Middle East Turnaround:: Strategy at Abu Dhabi Commercial Bank After The Financial Crisis
Middle East Turnaround:: Strategy at Abu Dhabi Commercial Bank After The Financial Crisis
Middle East Turnaround:: Strategy at Abu Dhabi Commercial Bank After The Financial Crisis
TURNAROUND:
STRATEGY AT ABU
DHABI
COMMERCIAL BANK
AFTER THE
FINANCIAL CRISIS
Submitted by:
Group 1
About ADCB
Early
Success of
ADCB was widely recognized as a leader in banking innovation and customer
service
ADCB
Very strong cash position
Net profits had increased almost five-fold, from US$110 million to US$541
million in 2007
Shareholder equity had increased by more than two and one half times and
returns on both equity and assets had doubled during the same five years.
1. December 2006 - Lloyd's Register Quality Assurance recognized ADCB for its Quality Management System awarding the bank a
certificate attesting to this achievement (valid for three years) in December 2006.
2. January 2007 - at the Euromoney Islamic Finance Awards in London, the bank was named ‘Most Improved in the Middle East’ and
its Islamic compliant overdraft facility ‘Best New Islamic Product of the Year’
3. February 2007 - ADCB launched the first MSCI UAE Fund, the first index fund in the region, and won a Euromoney ‘Project Finance
Deal of the Year’ award for its work with L&T Interstate Road Corridor Limited
4. March 2007 - ADCB received the First Class Human Resources Development Prize in the U.A.E. Banking and Financial Sector, and
paid a handsome cash dividend to its shareholders.
5. June 2007 - Euromoney named ADCB the best bank in the UAE
6. October 2007 - ADCB was the inaugural winner of the ‘Bank of the Year’ nomination.
7. November 2007 - ADCB garnered the ‘Sea Trade Middle East Award’ for its finance of shipping, as well as the ‘JP Morgan Elite
Quality Recognition Award’.
8. The awards also continued, with ADCB named ‘Best UAE Retail Bank’ by The Asian Banker, and two triumphs at the widely
recognized Banker Middle East Industry Awards
Pre-Crisis
Initiatives
1. In February, ADCB launched the first MSCI UAE Fund,
the first index fund in the region
2. In October, the bank launched its Touchpoints
rewards programme, which encouraged customers to
use multiple products and services offered by ADCB
3. Launch of Meethaq, a Shari’ah-compliant financial
solution
Impact of Financial Crisis
Post-Crisis Initiatives