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• Year 2007 Download English  Download Arabic
• Year 2006 Download English  Download Arabic
• Year 2005 Download English  Download Arabic
• Year 2004 Download English  Download Arabic

Chairman's message from the 2008 Annual Report

On behalf of the ADCB Board of Directors, I am pleased to introduce ADCB’s Annual Report for 2008. 2008 was an extraordinary year for the Banking sector both in the UAE and
internationally.

Despite the challenges arising from the financial crisis, which continues to have repercussions on both international and local levels, the Bank’s revenues grew during 2008 by 16% compared to
the year 2007. However, the Board of Directors, in line with the UAE Central Bank’s directions and guidelines, decided to take conservative and precautionary measures, the most important of
which was to make general provisions of AED 1.489 from the Bank’s profit realised in 2008. These general provisions stabilise the Bank’s position and enable the Bank to face the future challenges.

However, despite the high voluntary general provisions taken for the year, the Board of Directors also decided to recommend distribution of cash dividends at the rate of 10% of the Bank’s share capital.

Despite of the extraordinary circumstances and the turmoil prevailing in the Banking sector during the year, in 2008 ADCB continued to invest in the development of its Human Resources, Communication Channels, and operations and information technology systems, to keep pace with international standards and the latest developments in the banking and financial services industries.

In line with its endeavours to meet its social corporate responsibilities, ADCB attracted and developed talented young nationals, offering them promising and attractive careers. During 2008 ADCB exceeded the nationalization program requirements and secured the Human Resources Development Award in Emiratization for the 3rd year in a row.

I would like to express ADCB’s thanks and appreciation for the generous government support to the UAE Banking sector, which had a great impact to stabilize business and enhance trust in the sector. This would have never been achieved save for the efforts of the wise leadership of his Highness Sheikh Khalifa bin Zayed Al Nahyan, The UAE President and his Highness Sheikh Mohamed bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces, who both raised national banks’ soundness and liquidity and have enabled them to continue
driving the economic development in the UAE. Thanks are also due to his Highness Sheikh Mansour bin Zayed for his close attention to the banking sector and also to the Ministry of Finance, the UAE Central Bank and The Abu Dhabi Finance Department.

In conclusion, I would like to thank our shareholders, Board Members, Senior Management Team and all ADCB’s staff for their dedication and loyalty. I am confident that ADCB, including all its staff and management, have the capabilities required to overcome the present obstacles and to meet all future challenges.

Eissa Mohamed Al Suwaidi
Chairman