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News Article

13 December 2005

Two new ADCB branches in Dubai

In line with its Board of Directors strategic vision and in a clear indication of its commitment to playing a major leading role in the economic development of Abu Dhabi and the UAE in general, H.E. Rashed Al Mazrouie member of ADCB board of directors inaugurated yesterday two new branches at Mall of the Emirates and Dubai Internet City on Sheikh Zayed road. The ceremony was attended by Mr. Eirvin Knox, CEO of ADCB and some other members and officials.

Al Mazrouie said "these two new branches are considered the latest in the series of our branches throughout the country in order to keep abreast of the development process and provide state-of-the-art services to our customers in Dubai and northern emirates".

'The new branches prime locations coupled with state-of-the art design, dedicated staff, innovative products and personalized services are a testament to our ongoing commitment towards making our customer's banking experience valuable and mutually profitable' said Eirvin Knox, CEO of ADCB.

Endeavoring to position itself as a flexible facilitator that allows the customers to dictate what they want at any point in time in terms of the branch, the products and the level of service, ADCB developed its new branches with a state-of-the-art creative design concept that delivers on ADCB's focus to continually provide innovative customer orientated products and services.

'Our commitment is to always embrace the new developments in the economy and meet the demands in the financial market to expand our existence and enhance our customers' satisfaction', added Knox.

He reiterated that a new branch will be opened shortly in Sharjah, and revealed a plan to open five new branches in Abu Dhabi and other cities in the country during 2006 to meet the increasing demand for the services of the bank.

ADCB is a diversified full service bank. Other than banking services that span corporate, retail and commercial banking ADCB is active in the areas of treasury derivatives, infrastructure finance, private banking and wealth management.

The bank's strong franchise, supported by a network of 43 UAE branches and 2 in India is reflected in its recent rating of Aa3, which is the highest awarded to a bank instrument in the Middle East.

The Government of Abu Dhabi, through Abu Dhabi Investment Authority (ADIA), holds 65% of the capital while the rest is held by various UAE Institutions and Nationals. ADCB's market capitalization as of 30/09/2005 was AED 59 Billion (US$16.1 Billion).

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