The full form of ADCB is the Abu Dhabi Commercial Bank. As a limited liability public shareholding company, ADCB was established in the United Arab Emirates in 1985 due to the merging of Emirates Commercial Bank, Khaleej Commercial Bank, and Federal Commercial Bank, which had been established in 1975.
Important points about ADCB
Excel in IELTS with India’s Top Online Coaching
Leap has helped more than 1 Lakh students achieve 7+ IELTS band.
- The Abu Dhabi Investment Council (ADIC), which represents the Abu Dhabi government, owns about 62.52% of the shares of ADCB; other people and organisations hold the remaining shares.
- The third-largest bank in the UAE in terms of capitalization, ADCB offers a range of business and commercial banking services to its clients.
- As of September 30, 2018, it employs over 5000 workers who serve both corporate and retail clients. Other than 56 branches in the UAE, it has one division in Jersey.
- Additionally, it operates out of regional offices in Singapore and London.
- In January 2019, it was announced that ADCB, Union National Bank (UNB), and Al Hilal Bank had merged into one institution.
- 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 publicly traded joint stock corporation located in the United Arab Emirates that provides commercial, retail, investment, brokerage, merchant, and fund management operations through a network of forty-eight offices in the UAE and one in the UK.