Abu Dhabi Commercial Bank PJSC () (), commonly called ADCB, is a bank in the
United Arab Emirates
The United Arab Emirates (UAE), or simply the Emirates, is a country in West Asia, in the Middle East, at the eastern end of the Arabian Peninsula. It is a Federal monarchy, federal elective monarchy made up of Emirates of the United Arab E ...
.
Abu Dhabi Commercial Bank (ADCB) was formed in 1985 as a public shareholding company with
limited liability
Limited liability is a legal status in which a person's financial Legal liability, liability is limited to a fixed sum, most commonly the value of a person's investment in a corporation, company, or joint venture. If a company that provides limi ...
, following the mergers between Emirates Commercial Bank, Federal Commercial Bank, and Khaleej Commercial Bank, which was established in 1975.
The Government of
Abu Dhabi
Abu Dhabi is the capital city of the United Arab Emirates. The city is the seat of the Abu Dhabi Central Capital District, the capital city of the Emirate of Abu Dhabi, and the UAE's List of cities in the United Arab Emirates, second-most popu ...
through the
Abu Dhabi Investment Council (ADIC) holds 62.52% of ADCB shares; the remainder is held by other institutions and individuals. ADCB is the third-largest bank in the UAE in terms of balance sheet size and offers a range of commercial and retail banking services to its customers.
As of 30 September 2018, it employs over 5000 people serving retail and corporate clients. Aside from 56 branches in the UAE, it had 1 branch in Jersey until October 2020. It also operated out of representative offices in
Singapore
Singapore, officially the Republic of Singapore, is an island country and city-state in Southeast Asia. The country's territory comprises one main island, 63 satellite islands and islets, and one outlying islet. It is about one degree ...
and London until these closed in 2020
In January 2019, a 3 bank merger was announced between ADCB, Union National Bank and
Al Hilal Bank. The combined bank continues to operate as ADCB although Al Hilal Bank operates as a standalone Islamic bank consolidated under the new group entity.
ADCB Group will become the fifth largest bank in the region with approximately 1 million customers.
Area of Business
The Bank is a United Arab Emirates-based public
joint stock company
A joint-stock company (JSC) is a business entity in which shares of the company's capital stock, stock can be bought and sold by shareholders. Each shareholder owns company stock in proportion, evidenced by their share (finance), shares (certifi ...
that provides
retail
Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is the sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholes ...
,
commercial
Commercial may refer to:
* (adjective for) commerce, a system of voluntary exchange of products and services
** (adjective for) trade, the trading of something of economic value such as goods, services, information or money
* a dose of advertising ...
,
investment
Investment is traditionally defined as the "commitment of resources into something expected to gain value over time". If an investment involves money, then it can be defined as a "commitment of money to receive more money later". From a broade ...
,
merchant
A merchant is a person who trades in goods produced by other people, especially one who trades with foreign countries. Merchants have been known for as long as humans have engaged in trade and commerce. Merchants and merchant networks operated i ...
,
brokerage
A broker is a person or entity that arranges transactions between a buyer and a seller. This may be done for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Neith ...
and
fund management
Asset management is a systematic approach to the governance and realization of all value for which a group or entity is responsible. It may apply both to tangible assets (physical objects such as complex process or manufacturing plants, infrastru ...
activities through its network of 56 branches in the United Arab Emirates and 1 in
the UK.
See also
*
List of banks
Lists of banks are contained in the following articles:
By continent
* List of banks in Africa – Each country in Africa has a list of banks operating in that country
* List of banks in Asia – Each country in Asia has a list of banks oper ...
*
List of banks in United Arab Emirates
This is a list of banks in the United Arab Emirates.
List of National Banks
List of Foreign Banks (including Wholesale banking, wholesale banks)
See also
* List of banks in the Arab world
References
External links Central Bank of the U ...
References
External links
Official website{{Authority control
Companies listed on the Abu Dhabi Securities Exchange
Banks of the United Arab Emirates
Banks established in 1985
Companies based in Abu Dhabi
Emirati companies established in 1985