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22 June 2008

ADCB triumphs with two major honors at industry ‘Oscars’

Abu Dhabi: June 21, 2008: Abu Dhabi Commercial Bank stole the show with ‘Best Bank’ and ‘Best Advertising & Marketing’ in the Middle East at the prestigious Banker Middle East Industry Awards 2008.

ADCB claimed the Best Advertising & Marketing award for the second year in a row at the distinguished gathering of regional and international bankers at Dubai’s Jumeirah Emirates Towers last week.

Commenting on the awards, Eirvin Knox, ADCB CEO said: “The Banker Middle East Industry Awards are a proven benchmark for banks across the region. To be named ‘Best Bank’ across the Middle East is quite literally the ultimate acknowledgement given the standards of excellence in the region. To also claim ‘Best Advertising & Marketing’ for the second year in a row is the icing on the cake and testament to the hard work and dedication shown by our entire team over the past year.”

Ala’a Eraiqat, Deputy CEO, ADCB, added: “We’ve always prided ourselves on continually striving to be the best, so to be nominated for two awards by our peers in the industry and then voted the winner of both by readers of Banker Middle East demonstrates tangibly that we really have raised the industry standards and now set the example in the industry”.

With awards recognizing individual and institutional success across all areas of finance - from retail banking through to private equity - the Banker Middle East Industry Awards confirm market leadership among institutions in the Middle East’s financial community.

Nigel Rodrigues, CEO of CPI Financial, publisher of Banker Middle East, said: “The Banker Middle East Industry Awards have become an integral part of the banking sector within the region. These awards aim to recognize and reward significant growth and achievements and allow new and old, large and small institutions to triumph and be acknowledged by their peers for recent successes.”

More than 70 companies were nominated by leading regional financial experts. The nominees were then announced to readers of Banker Middle East who cast their votes throughout June to decide the winners.

In 2007, ADCB saw a 40 percent growth in core business, a 31 percent growth in assets, a 30 percent growth in customer deposits and a ratio of bad loans of just 1.3 percent - the lowest in the UAE.

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