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, 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.
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 balance sheet size, 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.