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News Article

05 April 2007

ADCB ties up with UTI Bank

Abu Dhabi Commercial Bank has joined hands with UTI Bank, India’s first new generation private sector bank to bring Non-Resident Indians (NRI’s) a comprehensive solution to cater to their India and UAE banking needs. An agreement to this effect was signed by Mr. Eirvin Knox, CEO of ADCB and Mr. Vinod George, President, International Banking of UTI Bank recently. The service is expected to be launched shortly.

The new service provides NRIs in the UAE with an easy one-stop solution to all their banking needs, both in India and in UAE. The unique feature of the service will be instant online rupee money transfers from an ADCB dirham account to an UTI Bank account.

“At ADCB we acknowledge that our customers are partners and we strive to provide answers to customer’s needs and to treat every customer as an individual. As such, ADCB has positioned itself as a flexible facilitator that allows the customer to dictate what they want at any point in time. The partnership with UTI bank will aim to achieve this very goal” said Eirvin Knox, CEO of ADCB.

P.J.Nayak, Chairman and Managing Director of UTI Bank said “The Retail strategy of UTI Bank for the Middle East is working through Alliances with strong Local Banks to provide a one stop solution to the Indian Diaspora for their Banking, Investment, and Remittance requirements both in their Host country and their Home country. We find ADCB with its large network, robust Internet Banking platform and Retail focus to be an ideal platform to serve the Non-Resident Indian community in the UAE.”

Ala’a Eraiqat, Head UAE Banking Group, ADCB, remarked “Today we offer the most comprehensive set of products and services to our retail customers. Providing customized solutions for specific customer segments is one of the cornerstones of our strategy. This partnership with UTI Bank of India is a natural outcome of this strategic direction with the large non-resident Indian customer segment in mind.”

Arup Mukhopadhyay, Head-Retail Banking Division, ADCB, added “The UTI Bank- ADCB combined proposition aims to offer the entire suite of India centric products, viz. NR accounts, India Home Loans, etc., right here in UAE to complement the product and services already offered by ADCB. The most unique feature of this tie up would be the instant online remittance to UTI bank accounts in India from an ADCB account, which in short means: more value, more convenience and more peace of mind’

ADCB offers Deposits, Investments, Personal, Home and Car loans, Credit cards and a host of other products in UAE. UTI Bank offers a wide range of products for its NRI clients including Transaction accounts, Home loans, Global debit card and multi branch banking facility.

ADCB will also set-up special NRI Customer service centers at its branches in Abu Dhabi, Dubai and Sharjah for this service.

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