Abu Dhabi Commercial Bank

Overview

  • Founded Date January 1, 1985
  • Posted Jobs 0
  • Viewed 374
  • Founded Since 1985

Company Description

Abu Dhabi Commercial Bank PJSC (Arabic: بنك أبوظبي التجاري) (ADX: ADCB), commonly called ADCB, is a bank in the United Arab Emirates.

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.