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| Company type | Public |
|---|---|
| ADX: ADCB | |
| Industry | Banking |
| Founded | 1985; 40 years ago (1985) |
| Headquarters | , United Arab Emirates |
Area served | United Arab Emirates |
| Products | Financial services |
| Total Assets 148 billion | |
| Owner | Government of Abu Dhabi (through theAbu Dhabi Investment Authority (ADIA)) (65%) |
Abu Dhabi Commercial Bank PJSC (Arabic:بنك أبوظبي التجاري) (ADX: ADCB), commonly calledADCB, is a bank in theUnited Arab Emirates.
Abu Dhabi Commercial Bank (ADCB) was formed in 1985[1] as a public shareholding company withlimited liability, following the mergers between Emirates Commercial Bank, Federal Commercial Bank, and Khaleej Commercial Bank, which was established in 1975.
TheGovernment of Abu Dhabi through theAbu 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.[2]
As of 30 September 2018, it employs over 5000 people serving retail and corporate clients. Aside from 56 branches in the UAE, it had 1 branch in Jersey until October 2020.[3] It also operated out of representative offices inSingapore and London until these closed in 2020[4]
In January 2019, a 3 bank merger was announced between ADCB, Union National Bank andAl 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.[5][6][7][8][9]
The Bank is a United Arab Emirates-based publicjoint stock company that providesretail,commercial,investment,merchant,brokerage andfund management activities through its network of 56 branches in the United Arab Emirates and 1 inthe UK.
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| National | |
