Abu Dhabi Commercial Bank – ADCB Egypt’s Managing Director & CEO
ADCB EGYPT is emerging strong in the Egyptian market.
In just one year, ADCB Egypt was able to rise to every challenge to serve and support its customers and drive engagement across all its digital channels whilst responding to the needs of its employees and community. And it is just a beginning…
- ADCB-Egypt’s first year in the Egyptian market has been abundant in accomplishments
- 83% hike in net profits in H1 of 2021 YOY
- The bank is adopting an ambitious integrated development strategy to become the most preferred bank and lead the digital breakthrough
- +320% in digital channels users since September 2020 and 50% of the bank’s transactions have become digital
- The bank has developed a ‘Financial inclusion’ strategy with a vision to integrate people with determination into the banking
ADCB Egypt first year in the market was a noticeably successful beginning. This success does not only reflect on ADCB’s pertinent strategy and convenient banking solutions, but also the Egyptian market’s stable economy and high investment potentials.
ADCB’s emergence in Egypt is aiming to bring the expertise of ADCB group, a market leader in UAE boasting the best banking experience and the most innovative digital services.
- What are the most prominent features of ADCB – Egypt’s strategy?
A full year has passed since the launch of ADCB- Egypt brand, and we have succeeded in implementing the roadmap set forth in accordance with the bank’s strategy for integrated development until 2025. Through this strategy our goal is to be the most preferred bank for customers.
We have already been able, during such a short period, to fulfill many achievements that we are so proud of.
ADCB- Egypt’s strategy is mainly based on several basic pillars, most notably achieving growth through customer satisfaction by adhering to the highest levels of quality and efficiency. This entails focusing on accelerating the digitalization using the latest technologies, so as to provide innovative services and safe products. Our strategy relies on exploiting available opportunities in local markets, dealing with risks professionally and incorporating the sustainability dimension in our operations. Finally, the human asset in our strategy is based on attracting, developing and retaining the best available talents from employees, motivating them to accomplish the highest levels of performance.
- What is the bank’s business growth rate during the period in which the new brand was launched?
ADCB – Egypt recorded an 83% increase in net profits at the end of the first half of 2021, compared to the same period last year. Customer base grew by 10%, total assets increased by 22%, to reach 41.9 billion Egyptian pounds at the end of June 2021, compared to 34.3 billion Egyptian pounds at the end of December 2020.
Furthermore, ADCB- Egypt’s customer deposits portfolio increased by 20% to reach 34.9 billion Egyptian pounds at the end of June 2021, compared to 29.1 billion Egyptian pounds at the end of December 2020.
Such a huge rise in performance indicators has also been accompanied by a digital development that took place in a record time, whether in terms of offering distinguished digital services to our customers or internally in terms of business automation adopted in all internal departments of the bank.
Additionally , the bank, , has specifically focused on meeting the requirements and needs of our distinguished customers by launching the “ADCB Excellency” segment and the ADCB Concierge services as well as the Infinite and Platinum credit cards.
- What are the growth rates achieved in electronic banking services during the last period?
The number of users utilizing the bank’s digital services has substantially increased by 320% since September 2020, whereas the percentage of transfers and payments through digital channels has risen by 50%.
These impressive stats come as a result of the various digital solutions provided by ADCB Egypt in record time, such as online banking and mobile App services, which have significantly contributed to facilitating the completion of customer’s banking services, as they allowed clients to access their bank account and complete transactions, bank transfers whether internal or external anywhere and at any time. Furthermore, the bank relies on adapting a friendly omnichannel experience for the convenience of its customers.
Moreover, Abu Dhabi Commercial Bank – Egypt also launched a corporate online banking service platform to allow customers to manage their day-to-day operations. Additionally, the bank has introduced the interactive “chat bot” service. These services depend on the use of the latest technology and the most innovative and secure methods for banking transactions.
- The bank is very active in implementing various initiatives of the Central Bank of Egypt, so what are the latest developments concerning the accomplishment of such initiatives objectives?
ADCB – Egypt has always played an active role in supporting the Egyptian economy, by participating in initiatives launched by the Central Bank OF Egypt (CBE) and is continually working to execute them to the fullest, including the Small and Medium Enterprises (SMEs) Initiative, where the bank has been able to raise small and medium enterprises portfolio finances by 25% at the end of June 2021 compared to last year. Furthermore it, has participated in the industrial private sector initiative, where the facilities volume granted by the lender within the framework of such an initiative amounted to some 4.150 billion Egyptian pounds at the end of August 2021.
- What is ADCB- Egypt’s strategy for achieving financial inclusion?
ADCB – Egypt has a comprehensive vision and a distinct strategy for achieving financial inclusion based on targeting the integration of people with determination into the banking sector, as they constitute a segment of society worthy of consideration. So reaching that segment is a lofty goal that will achieve sustainable social and economic development while effectively contributing to the mandates set out by the Central Bank of Egypt. The bank, in this regard, has taken big strides that will empower people with special needs economically.
In doing so, ADCB has organized extensive hearing sessions with people of determination to discuss their various requirements that are necessary to obtain banking services and products which suit the nature of each segment.
Accordingly, the bank has taken many significant steps to empower disabled people, first of which is training the bank’s customer service staff on sign language, a step considered the first of its kind in the Egyptian banking sector.
The bank has also made all its formal documents available in Braille language to enhance the visually impaired ability in knowing the content of the bank’s documents necessary during banking transactions without being dependent.
In the same context, ADCB – Egypt has provided wheelchair-accessible entrances to branches so as to make matters easy for customers with physical disabilities, and to provide the required mechanisms for them so that they can access their banking services easily.
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