Latest news with #AbuDhabiInvestmentCouncil
Zawya
14-07-2025
- Business
- Zawya
UAE lender ADCB reports 11% jump in second-quarter profit
Abu Dhabi Commercial Bank reported net income of 2.57 billion dirhams ($699.7 million) for the second quarter on Monday, up 10.7% from the prior-year period, beating analyst expectations. Analysts had expected ADCB's second-quarter profit at 2.33 billion dirhams, according to LSEG data. The bank reported a net profit of 2.32 billion dirhams in the quarter ended June 30 last year. ADCB is the third-largest bank by assets in the United Arab Emirates and majority-owned by the government-run Abu Dhabi Investment Council. "Balance sheet growth remains strong amid healthy consumer and business confidence and ample system liquidity," the bank said in a statement. Key growth areas included energy, trading, financial institutions, transport and communication. The bank said non-interest income, which jumped 44% in the quarter compared to last year, continued to be a key driver for growth. Total assets also grew, rising 17% year-on-year to 719 billion dirhams. Net loans grew 14% and deposits increased 19%. Shares in ADCB are up about 36% year-to-date.
Al Bawaba
23-04-2025
- Business
- Al Bawaba
ADCB rated the strongest banking brand in the UAE for the 2nd consecutive year while its brand value surges 17% to AED 12.3 billion
ADCB was formed in 1985 and today after integration employs over 3,350 people from over 45 nationalities, serving approximately 590,000 retail customers and over 20,000 wholesale clients. It is the third largest bank in the UAE and second largest in Abu Dhabi by assets, at AED 163.7 billion as at March 31st, 2010. ADCB is a full-service commercial bank which offers a wide range of products and services such as retail banking, wealth management, private banking, corporate banking, commercial banking, cash management, investment banking, corporate finance, foreign exchange, interest rate, currency, derivative, Islamic products, project finance and property management services. ADCB is owned 64.8% by the Abu Dhabi Government through the Abu Dhabi Investment Council. Its shares are traded on the Abu Dhabi Securities Market. ADCB has won the Silver class category of The Sheikh Khalifa Excellence Award (SKEA) for the finance sector in November, 2009. In February 2010, ADCB won The World Finance Corporate Governance Award for 'Best Corporate Governance in the UAE' and was recently named 'Best Retail Bank in the UAE and GCC 2010' by The Asian Banker magazine in March 2010.
