Government of Abu Dhabi [through the Abu Dhabi Investment Authority (ADIA)] (65%)
Abu Dhabi Commercial Bank (ADCB) was formed in 1985 as a public shareholding company with limited liability, following the mergers between Emirates Commercial Bank, Federal Commercial Bank, and Khaleej Commercial Bank, which was established in 1975.
The Government of Abu Dhabi through the Abu Dhabi Investment Council (ADIC) holds 62.52% of ADCB shares; the remainder is held by other institutions and individuals. ADCB is the third-largest bank in the UAE in terms of balance sheet size and offers a range of commercial and retail banking services to its customers.
As of 30 September 2018, it employs over 5000 people serving retail and corporate clients. Aside from 56 branches in the UAE, it has 1 branch in Jersey. It also operates out of representative offices in Singapore and London.
In January 2019, a 3 bank merger was announced between ADCB, Union National Bank and Al Hilal Bank. The combined bank continues to operate as ADCB although Al Hilal Bank operates as a standalone Islamic bank consolidated under the new group entity.
ADCB Group will become the fifth largest bank in the region with approximately 1 million customers.[1][2][3][4][5]
^"Shares in ADCB, UNB, ADIB suspended after bank merger speculation". ArabianBusiness.com. Reuters. Retrieved 2019-02-15.
^"Abu Dhabi's three-way banking merger likely in 2019 first quarter". gulfnews.com. Retrieved 2019-02-15.
^"Proposed bank merger in Abu Dhabi could lead to 1,000 job cuts - report". Gulf Business. 2018-12-24. Retrieved 2019-02-15.
^"UAE banks ADCB and UNB agree on merger and takeover of Al Hilal". The National. Retrieved 2019-02-15.
^John, Issac. "ADCB, UNB, Al Hilal merge to form Dh420 billion bank". Khaleej Times. Retrieved 2019-02-15.
External linksEdit
Official website
September 04, 2023
adcb, dhabi, commercial, bank, pjsc, arabic, بنك, أبوظبي, التجاري, commonly, called, bank, united, arab, emirates, typepublictraded, asadx, industrybankingfounded1985headquartersabu, dhabi, united, arab, emiratesarea, servedunited, arab, emiratesunited, kingdo. Abu Dhabi Commercial Bank PJSC Arabic بنك أبوظبي التجاري ADX ADCB commonly called ADCB is a bank in the United Arab Emirates ADCBTypePublicTraded asADX ADCBIndustryBankingFounded1985HeadquartersAbu Dhabi United Arab EmiratesArea servedUnited Arab EmiratesUnited KingdomProductsFinancial servicesNet incomeTotal Assets 148 billionOwnerGovernment of Abu Dhabi through the Abu Dhabi Investment Authority ADIA 65 Abu Dhabi Commercial Bank ADCB was formed in 1985 as a public shareholding company with limited liability following the mergers between Emirates Commercial Bank Federal Commercial Bank and Khaleej Commercial Bank which was established in 1975 The Government of Abu Dhabi through the Abu Dhabi Investment Council ADIC holds 62 52 of ADCB shares the remainder is held by other institutions and individuals ADCB is the third largest bank in the UAE in terms of balance sheet size and offers a range of commercial and retail banking services to its customers As of 30 September 2018 it employs over 5000 people serving retail and corporate clients Aside from 56 branches in the UAE it has 1 branch in Jersey It also operates out of representative offices in Singapore and London In January 2019 a 3 bank merger was announced between ADCB Union National Bank and Al Hilal Bank The combined bank continues to operate as ADCB although Al Hilal Bank operates as a standalone Islamic bank consolidated under the new group entity ADCB Group will become the fifth largest bank in the region with approximately 1 million customers 1 2 3 4 5 Contents 1 Area of Business 2 See also 3 References 4 External linksArea of Business EditThe Bank is a United Arab Emirates based public joint stock company that provides retail commercial investment merchant brokerage and fund management activities through its network of 48 branches in the United Arab Emirates and 1 in the UK See also EditList of banks List of banks in United Arab Emirates nbsp Banks portalReferences Edit Shares in ADCB UNB ADIB suspended after bank merger speculation ArabianBusiness com Reuters Retrieved 2019 02 15 Abu Dhabi s three way banking merger likely in 2019 first quarter gulfnews com Retrieved 2019 02 15 Proposed bank merger in Abu Dhabi could lead to 1 000 job cuts report Gulf Business 2018 12 24 Retrieved 2019 02 15 UAE banks ADCB and UNB agree on merger and takeover of Al Hilal The National Retrieved 2019 02 15 John Issac ADCB UNB Al Hilal merge to form Dh420 billion bank Khaleej Times Retrieved 2019 02 15 External links EditOfficial website Retrieved from https en wikipedia org w index php title ADCB amp oldid 1168626145, wikipedia, wiki, book, books, library,
