ADCB Sponsors 4th Middle East SME Forum

01 October 2013

Participation reaffirms ADCB's commitment to this vital sector

Abu Dhabi, 1 October 2013: Abu Dhabi Commercial Bank ("ADCB") is proud to be the Headline sponsor of the 4th Middle East SME Forum, being held at the National Exhibition and Conference Center from October 1st to 2nd 2013. H.E Abdullah Al Darmaki, CEO, Khalifa Fund for Enterprise Development made the inaugural speech in presence of Mr. Ala'a Eraiqat CEO, ADCB, leading SME executives, entrepreneurs and government related entities.

Commenting on the forum, Mr. Howard Gaunt, Executive Vice President and Head of Corporate and Business Banking Group at ADCB, stated, "The UAE and the Middle East region, are witnessing unprecedented opportunities for existing and rising entrepreneurs. The growing economies, coupled with the ever-changing demographics across the region, are fuelling the opportunities for business diversification, with SMEs having had a very strong early start here. ADCB has been a pioneer in the SME sector in UAE, and has been leading the charge on offering SMEs relevant value-added products and services."

ADCB is sponsoring the event for the second year in a row; the Bank is committed to ensuring that small and medium enterprises are nurtured and afforded the facilities required for growth. Senior Executives from ADCB's Wholesale Banking Group are actively participating in the forum, with Mr. Howard Gaunt, Executive Vice President and Head of Corporate and Business Banking having delivered the keynote speech and Mr. Colin Fraser, Head of Wholesale Banking having delivered the welcome address on day 1.

He added, "We are committed to supporting the growth of SMEs in the UAE; this commitment is reflected not just through our products, but also our active participations in forums like the 4th Middle East SME forum and others. Our strategic relations with institutions like the Khalifa Fund for Enterprise Development and Dubai SME in developing and supporting home grown SMEs, are testament to our close involvement in the sector.

We believe such forums will help shape thoughts and actions that will positively impact SME growth in UAE and the Region".

SMEs play a crucial role in ensuring that UAE's economy is diversified and they are responsible for 98% of job creation in the region. In recent years, the Middle East has been ambitious to diversify from traditional revenue streams and SMEs have enabled entrepreneurialism to flourish and enhance the competitiveness of the region's private sector. ADCB's Business Banking Group is a pioneer in the SME space and is leading the industry in providing relevant products that meet the needs of dynamic SMEs.

ADCB's Business Banking offers dedicated suite of products specifically designed for small and medium enterprises. The Bank offers a spectrum of solutions across transaction accounts, trade finance and financing products for its innovative client base. It also offers a range of lending products to choose from. These include Unsecured Loans, Working Capital as well as loans to finance purchase of Commercial Vehicles and Construction Equipment. The Bank is truly leading the market in terms of delivering flexible and innovative solutions to clients as it offers customisable products specifically designed for clients in different segments and a bundled-product offering for customers in sub-segments, meaning that there is a solution to meet all SMEs business needs.