Abu Dhabi Commercial Bank launches in Egypt

Abu Dhabi Commercial Bank launches in Egypt
Abu Dhabi Commercial Bank (ADCB) trademark will replace that of the Union National Bank (UNB) in Egypt after the two banks merged with Al-Hilal Bank, to form a single entity in the UAE. (AFP/File)
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Updated 30 August 2020

Abu Dhabi Commercial Bank launches in Egypt

Abu Dhabi Commercial Bank launches in Egypt
  • ADCB Egypt is expected to play a pivotal role in the coming period within the group’s network of branches in the Arab region

CAIRO: The Abu Dhabi Commercial Bank Group, the fifth largest banking entity in the Gulf with assets of 405 billion dirhams ($110 billion), entered the Egyptian market on Sunday.

It is expected that the Abu Dhabi Commercial Bank (ADCB) trademark will replace that of the Union National Bank (UNB) in Egypt after the two banks merged with Al-Hilal Bank, to form a single entity in the UAE. ADCB occupies the third position in the UAE market.

After completing the merger and integration process with UNB and the acquisition of Al-Hilal Bank, ADCB adopted a strategic plan to improve customer experience.

Ihab Al-Swireky, managing director and CEO of ACDB Egypt, said that the bank had ambitious expansion plans in the Egyptian market.

“The bank’s strategy is focused on five basic axes, which are achieving growth by taking advantage of the opportunities available in the local markets, sustainability through developing the deposit base, achieving the highest levels of quality and efficiency in all of our financial products and banking services, and dealing with any risks that we might face,” he added.  

The bank has a clearly defined strategy to manage these risks, and to attract, develop and retain the best available talent from employees and motivate them to achieve the highest levels of performance in line with the bank’s strategic objectives.

ADCB Egypt is expected to play a pivotal role in the coming period within the group’s network of branches in the Arab region, as it focuses on implementing an ambitious plan that includes adding new services and branches to reach new customers.