ADCB Wins'Bank of the Year- UAE'at Global Awards Ceremony

03 December 2012

Bank's strong balance sheet and growth recognised by global peers

Abu Dhabi, 3 December 2012: Abu Dhabi Commercial Bank (ADCB)one of the largest banks in the UAE, won the Bank of the Year Award - UAE at 'The Banker's Bank of the Year Awards 2012', which took place at the Intercontinental Hotel, Park Lane, London on November 28th.

The Banker Magazine's, Bank of the Year award aims to reward and promote industry-wide excellence in the global banking community. ADCB received recognition for its new turnaround strategy which has led to a considerably stronger balance sheet as well as growth across a number of areas for the bank. The judging panel named ADCB as the Bank that had made the most progress over the course of the year domestically, more so than any other bank.

Commenting on the announcement, Mr. Eissa Al Suwaidi, Chairman of ADCB said: "Our business strategy is routed in our commitment to deliver long-term sustainable value for our customers and shareholders. This acknowledgment by 'The Banker' and indeed the international banking community, confirms the strength and resilience of our business strategy."

Mr. Ala'a Eraiqat, ADCB's Chief Executive Officer, said: "We have made considerable progress so far this year, reporting record revenues and operating profit in the first nine months. Our success in growth has been based on our UAE-centric business strategy coupled with the hard work and dedication of our team across the UAE."

He added, "It is deeply humbling to receive recognition from global industry peers for our efforts and it is both an honour and a privilege receive this award on behalf of the bank. I would like to extend a special word of thanks to all of our shareholders and the Board of Directors for their support, our employees for their hard work and our customers for their on-going loyalty and trust."

Now in its 13th year, 'The Banker's Bank of the Year Awards' is now one of the most prestigious events in the banking industry. Organised in association with the Financial Times, the gala dinner and awards ceremony was hosted by veteran broadcasting journalist Michael Buerk and the event was attended by senior bankers from over 130 countries.