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Abu Dhabi Commercial Bank PJSC (Arabic: بنك أبوظبي التجاري) (ADX: ADCB), commonly called ADCB, is a bank in the United Arab Emirates.. Abu Dhabi Commercial Bank (ADCB) was formed in 1985 [1] as a public shareholding company with limited liability, following the mergers between Emirates Commercial Bank, Federal Commercial Bank, and Khaleej Commercial Bank, which was established ...
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The UAE Ministry of Foreign Affairs and International Cooperation plans to make the UAE passport one of the five strongest passports in the world by 2021. [11] According to The Passport Index , this goal was achieved by December 2018, ranking the Emirati passport as the strongest passport in the world with a visa-free score of 170.
The bank had its shares listed in the Abu Dhabi Securities Exchange (ADX) under the symbol UNB. [3] It was established as a Public Joint Stock Company in 1982, and became one of the UAE's leading domestic banks in the United Arab Emirates. The bank offered a variety of products and services to individuals and corporations.
The National Bank of Egypt's share continued to decline through several public offerings, to reach 18.7%. In 2006, a consortium led by Ripplewood Holdings acquired the share of the National Bank of Egypt. In July 2009, Actis purchased a 9.1% stake in Commercial International Bank, thus becoming the largest single shareholder in the bank's capital.
The Abu Dhabi Investment Council was splintered off from ADIA in 2007 and took over all local subsidiaries previously owned by ADIA including Abu Dhabi Commercial Bank, National Bank of Abu Dhabi and Abu Dhabi Investment Company (Invest AD). [7] Since 2013 the council has been based at Al Bahr Towers.
Al Hilal Bank was acquired by ADCB Group in 2019. [2] With issued capital of AED 4 billion and paid-up capital of AED 3.5 billion, the Bank had credit ratings of A+ and A2 by Fitch and Moody’s respectively. The Bank has 14 retail branches across the UAE and previously had 3 branches in Kazakhstan which now operate under the ADCB Islamic brand ...