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13 June 2007

Euromoney names ADCB Best Bank in the UAE

Abu Dhabi, 13th June 2007: Abu Dhabi Commercial Bank has been named “Best bank in the UAE” by pre-eminent international finance magazine Euromoney. The awards were presented at the 2007 Euromoney Awards for Excellence Middle East Dinner in Abu Dhabi on June 13th.

In awarding ADCB as the “Best Bank in the UAE” Euromoney recognized that ADCB stood out this year both for its results and the quality of its delivery, In what is an increasingly competitive market Euromoney was impressed by growth in all aspects of ADCB’s business citing that the bank had one of the strongest consumer franchises in the UAE” and further noting that the business banking group had secured new business totaling Dh23.9 billion in the year to March 2007”.

Eirvin Knox, CEO of ADCB, said “I am delighted to accept this award on behalf of ADCB. The award for Best Bank in the UAE is a tremendous achievement, one which recognizes ADCB’s on-going transformation as the UAE’s leading bank. In accepting this award I would also like to thank the loyal customers and dedicated staff of ADCB who made this accomplishment a reality”.

“The Euromoney Awards for Excellence are internationally recognized and acknowledged as the most significant awards in the industry, so to win the Best Bank in the UAE award is the ultimate accolade ” Knox concluded.

Regarded as the benchmark awards for financial services globally, the Euromoney Awards for Excellence are now in their 15th consecutive year. This year’s awards process, which began in March, attracted over 100 submissions from the region’s banks and brokerage houses competing for the 25 awards that Euromoney presented. Euromoney’s dedicated research team and awards panel then rated all the submissions on both quantitative and qualitative factors such as KPI’s, financial ratios and innovation over the 12 month period to decide the award winners.
“The fast pace of growth, innovation and sophistication of the Middle East makes the region one of the most exciting areas of the international capital markets. Euromoney is delighted to be hosting its third annual event in Abu Dhabi, one of the world’s fastest growing cities and a regional hub for industry, commerce and finance." said Euromoney Magazine CEO Simon Brady.

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