ADCB-Egypt Sweeps Global Awards for Outstanding Performance and Innovation in Banking Sector

Several prestigious international institutions have announced that Abu Dhabi Commercial Bank Egypt has received a significant number of awards in recognition of its outstanding performance across all levels and sectors, as well as its sustainable growth and commitment to the highest performance standards.

In acknowledgment of its exceptional performance, the bank received "Best New Bank" award from both the World Business Outlook and International Business magazine. Additionally, for its financial performance indicators and sustainable growth, World Business Outlook awarded the bank "Fastest Growing Bank" prize, along with "Fastest Growing Retail Bank & Fastest Growing Corporate Bank" titles.

Moreover, the bank was honored with two awards for "Best Corporate Governance Bank" by both Global Banking & Finance Review and World Finance, recognizing the bank's adherence to sound governance frameworks and strict application of recognized local and international standards.

Recognized for its innovation in digital services, the bank received 4 awards: "Best Digital Banking Services Provider" from World Business Outlook, "Most Innovative Digital Bank," and "Best Internet Banking" from International Business magazine.

Additionally, International Finance honored the bank with the "Most Innovative New Digital Bank" award and also acknowledged its "Best Financial Inclusion Package Towards People With Disabilities – Erada" vision, highlighting the bank's commitment to financial inclusion by focusing on empowering people with disabilities.

In line with its corporate social responsibility efforts, ADCB Egypt was awarded the "Best CSR Bank" by Global Banking and Finance Review.

On another note, the bank was recognized with the "Best Securitization Deal in Africa" award by EMEA Finance. This recognition comes as a result of the bank's participation, alongside seven other banks, in the success of the largest issuance in the Egyptian market – the seventh issuance of Emaar Misr's bonds valued at EGP20 bn, backed by a portfolio of financial rights owned by the New Urban Communities Authority.

Expressing his gratitude, Ihab ElSewerky, CEO and Managing Director of ADCB Egypt, stated, "We are proud of these awards as they not only recognize the bank's performance and the team's efforts but also reflect the strength of the bank's strategic focus on achieving customer satisfaction as a fundamental driver of growth."

He further explained that the bank's strategy relies on investing in digital innovation, delivering top-notch services while managing risks, adhering to international corporate governance standards, investing in the workforce, and adopting a sustainable plan to ensure balanced and continuous growth.

El Sewerky highlighted the bank's achievements since the launch of the ADCB brand in Egypt, with a 191% increase in bank assets, a 195% rise in deposit portfolio, and a 137% increase in loan portfolio. The bank aims for balanced growth across all business activities, with the corporate loan portfolio growing by 234% and individual loans by 58%, while corporate deposits increased by 205%, and individual deposits rose by 181%.

El Sewerky extended his appreciation to ADCB Egypt team for their continuous efforts and hard work, as well as to the bank's group in UAE for their constant support in achieving the bank's ambitious strategy to rank at the top among distinguished banks in the Egyptian market.

It is worth mentioning that the bank achieved net profits of EGP1.065 bn at the end of 2022, marking a growth of 50% compared to the previous year. Net customer loans and facilities also surged by 40% in 2022, reaching EGP29.7 bn. Customer deposit portfolio saw an 84% increase, totaling EGP75.5 bn by the end of 2022, while bank assets rose by 78% to reach EGP86.2 bn.

Abu Dhabi Commercial Bank Egypt remains committed to implementing new digital solutions to drive digital transformation and continually improve its services to meet global standards. The bank recently joined Instapay network to provide customers with greater ease and convenience, allowing them to link all their bank accounts across various banks through a single application.

All of these initiatives are part of the bank's five-year digital transformation plan and its commitment to financial inclusion, with a focus on empowering individuals with disabilities as an integral part of the broader community, contributing to sustainable social and economic development.

As part of its sustainability and financial inclusion focus, the bank launched Erada package, offering a wide range of financial and non-financial services, including a savings account with no administrative fees or minimum balance, an instantly issued medical card upon opening the account, providing access to significant discounts on various specialized services and compensatory devices through a vast medical network across the country. The package also includes a favorable loan to meet the diverse needs of people with disabilities.