Safeguarding the Bank and its customers

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Safeguarding the Bank and its customers


A robust approach to data privacy and security underpins ADCB’s reputation and secures the trust stakeholders place in the Bank. Proactive data management is also one of the reasons Sustainalytics, the international ESG rating agency, placed ADCB among the top 10 banks within the Sustainalytics ESG ratings universe globally for its approach to managing risks related to data privacy and security.

The Bank is committed to safeguarding the rights of its customers and to ensuring information on products and services is clear, comprehensive and easy to understand. This approach extends to the protection of sensitive customer information in full compliance with UAE’s Consumer Protection Standards. ADCB’s Data Strategy and Roadmap for 2022 focused on delivering the Data Protection Programme (DPP) along with key regulatory requirements. Our approach enhanced the maturity and effectiveness of data governance across the Group.

The Bank conducts regular privacy risk assessments or audits on the company’s technologies and practices affecting user data. It also carries out human rights risk assessments linked to data privacy where all processes are reviewed and documented to verify that data minimisation, purpose limitation, lawfulness and other privacy principles are adhered to.

We updated and enhanced several data privacy and governance policies, strengthened our data protection operating model, applied new data governance frameworks, and embedded data privacy and data protection risks among our principal risks within the overall risk management portfolio of the Bank.

To underline the importance of data protection and the handling of personal information, we delivered mandatory training for employees, including multiple face-to-face sessions on data privacy and potential breaches. We also rolled out a communication campaign across the Bank to raise awareness on these issues.

At the same time, we continued to increase the number of data protection impact assessments and worked with suppliers on improving vendor contracts with data sharing agreements.

Inaugural green bond supports financing of low-carbon initiatives for a net zero economy

The issuance of an inaugural green bond in 2022 represents a milestone in ADCB’s sustainability journey, combining international best practice with the Bank’s strong market position to mobilise global capital to support financing low-carbon businesses and projects.

The green bond underlines ADCB’s commitment to support the UAE’s transition to an inclusive, net zero economy.

The USD 500 million, five-year Reg S issuance was oversubscribed almost four times after attracting a range of local, regional, and international investors that placed total orders of over USD 1.9 billion. The bond was priced at a spread of 115 basis points above treasuries with a 4.5% coupon rate, reflecting confidence in the Bank and its approach to managing ESG risks and opportunities.

Proceeds support ADCB’s pledge to provide AED 35 billion in green financing by 2030 – in line with criteria set out in a Green Bond Framework adopted by the Bank in 2022. Eligible initiatives include projects or companies associated with renewable energy, green buildings, sustainable water and wastewater treatment, clean transportation, energy efficiency, pollution prevention and control.

ADCB’s Green Bond Framework, which aligns with the UN Sustainable Development Goals (SDGs) and based on the International Capital Markets Association (ICMA) Green Bond Principles, is governed by a cross-functional Green Bond Working Group reporting to an executive-level Group Sustainability Committee, Chaired by the Group CFO.

In accordance with industry best practice, ADCB obtained a ‘Second Party Opinion’ to externally verify the sustainability quality of the Framework and alignment with ICMA’s Green Bond Principles. The favourable pricing for ADCB’s issuance was supported by the Bank’s strong credit ratings of A/ Stable/A-1 from S&P, A+/Stable/F1 from Fitch, “AA” ESG rating from MSCI, and ESG risk score of 21.0 (Medium Risk) from Sustainalytics.

As a result of ADCB’s robust ESG approach, the Bank’s inaugural bond was selected to feature in the Bloomberg MSCI Green Bond Index.