ADCB Unveils Bold Strategy to Double Net Profit to AED20 Billion in Five Years
Abu Dhabi Commercial Bank (ADCB) has unveiled an ambitious strategy to double its net profit to AED20 billion within the next five years, targeting an annual growth rate of 20%.
The announcement underscores ADCB's alignment with the UAE's economic vision, reinforcing the nation's position as a global financial leader.
According to an official statement, the strategy aims to significantly increase ADCB's scale and reach while delivering an enhanced shareholder experience. Over the next five years, the bank plans to increase its dividend payouts by 50% compared to the previous five-year period, targeting a total payout of AED25 billion.
ADCB is also maintaining an annual Return on Equity above 15%, backed by robust regulatory ratios and sufficient capital to drive future growth.
Khaldoon Khalifa Al Mubarak, Chairman of ADCB's Board of Directors, expressed confidence in the plan, stating, 'ADCB's ambition aligns with the UAE's next phase of economic transformation. The focus on rewarding shareholders remains integral to this strategy, creating enduring value.'
Group CEO Ala'a Eraiqat highlighted the bank's progress since 2020, emphasizing ADCB's adoption of digital and AI technologies to enhance customer experience, risk management, and productivity. The strategy also emphasizes empowering UAE nationals to lead the transformation of the banking sector.
With a clear roadmap approved by the Board, ADCB is poised to accelerate its growth trajectory, delivering value through innovation and sustainable development.
News Source: Emirates News Agency
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