What is the full form of ADCB?
The full form of ADCB is the Abu Dhabi Commercial Bank. ADCB, in the United Arab Emirates and it was founded in 1985 as a limited liability public shareholding company result of the merger of Emirates Commercial Bank, Khaleej Commercial Bank & Federal Commercial Bank founded in 1975.
Important points about ADCB
- About 62.52% of ADCB shares are owned by the Government of Abu Dhabi via the ADIC (Abu Dhabi Investment Council), the balance is owned by other individuals and entities.
- With respect to capitalization, ADCB is the third-largest bank in the UAE and provides its customers with a variety of business and commercial banking services.
- It hires over 5000 individuals representing retail & corporate customers as of 30 September 2018. It has one division in Jersey, apart from fifty-six branches in the UAE.
- It also works in Singapore & London out of regional offices.
- A three bank merger between ADCB, Union National Bank(UNB) and Al Hilal Bank was reported in January 2019.
- While Al Hilal Bank functions as a stand-alone Islamic bank merged under the new brand entity, the merged bank continues to function as ADCB.
- With around 1 million users, ADCB Company will be the fifth-largest bank in the region.
Area of business of ADCB
The Bank is a United Arab Emirates-based public joint-stock company that, via its network of forty-eight branches in the UAE and one in the United Kingdom, offers commercial, retail, investment, brokerage, merchant & fund management operations.