A LANDMARK YEAR FOR ADCB IN EGYPT

ADCB Egypt, our newly re-branded subsidiary launched in 2020, is a full-service bank, providing both corporate and retail banking that is positioned to become the nation’s preferred bank.

With a national footprint of 47 branches and total assets of EGP 34 billion, we aim to offer a unique customer experience by leading the digital development of Egyptian banking. We leverage the strength of ADCB to deliver a full suite of advanced, competitive, innovative and highly secure financial solutions, with a strong focus on sustainability and customer satisfaction.

Our strategic commitments are to achieve growth by capitalising on the wealth of opportunities in our highly lucrative local market, whilst delivering sustainability through the development of a strong deposit base.

ADCB Egypt is also dedicated to attaining the highest levels of quality and efficiency across all our financial products and banking services, whilst treating our customers with integrity and fairness and effectively managing risk.

Our strategic objectives are complemented by the strength of the ADCB Group’s values — Integrity, Ambition, Discipline, Care and Respect — which are embodied by each of our employees. Consequently, they are felt throughout the delivery of our services and in every interaction with our colleagues and customers.

SUPPORTING THE NATION AND ITS PEOPLE

In facing the coronavirus pandemic, ADCB Egypt immediately moved to show its full support and commitment to the people of Egypt, donating a total of EGP 10 million to the Tahya Misr Fund to support its efforts to combat COVID-19 across the nation.

The health and well-being of our people was an urgent priority, and we immediately moved to achieve compliance with the directives and guidelines of the government, the Central Bank and the Union of Egyptian Bankers.

As well as introducing remote working for many of our employees, we implemented a comprehensive programme of precautionary measures at all our premises to safeguard our people and walk-in customers. This included the provision of face masks, sanitisers, glass shields, social distancing and temperature checks across all of our 47 branches.

STRONG GROWTH AND PERFORMANCE

ADCB Egypt delivered strong financial performance for the year with net profit rising 14% to EGP 491 million. Net loans rose 32% to EGP 16.561 billion and customer deposits increased 14% year on year to EGP 29.084 billion.

LOOKING AHEAD

Capitalising on our new brand, and driven by the energy and commitment of our people, our strategic goals are to achieve rapid growth in the Egyptian market by continuing to provide competitive services that exceed customer expectations.

A detailed programme of measures to improve liquidity and reduce cost base will be initiated, alongside new products to support the growth of savings and current accounts, and upgrades to strengthen our financing and operating systems.

In line with the strategy of the Group, ADCB Egypt has embarked on a digital transformation journey that will see the introduction of advanced online, mobile and ecommerce services, including a new corporate internet banking platform to support our business operations, and new cash management products.

To further strengthen our process efficiency, ADCB Egypt will develop a strong technological infrastructure to enhance business automation while implementing the best governance and controls practices.

Following on the success of our launch, we plan to grow awareness and strongly position the Bank in the Egyptian market through targeted communication activities.

Above all, we will remain focused on continuously improving our products and services to provide our clients with the banking experience they deserve, each and every day.