Five Awards for ADCB Egypt & Ihab EL Sewerky the CEO of the Year 2021
ADCB Egypt Emerging Strong in Year One
Abu Dhabi Commercial Bank Egypt (ADCB-Egypt) has wrapped up its first year with five prestigious awards, and its Managing Director & CEO, Ihab El Sewerky, was granted the award of ‘CEO of the Year 2021.’ The British magazine, Global Business Outlook, awarded ADCB Egypt “The Fastest Growing Digital Bank in 2021. Furthermore, the prestigious Digital Banker association awarded ADCB Egypt four awards for excellence in the Middle East and Africa retail banking sector; ‘Best Digital Transformation Program,’ Outstanding IT Transformation,’ ‘Best Financial Inclusion Initiative,’ and ‘Best Graduate Employment Program.’ At the Digital Banker Middle East and Africa Awards for Innovation in Retail Banking, CEO and Managing Director of ADCB Egypt, Ihab El Sewerky, was also awarded the ‘ CEO of the Year 2021.’
These awards culminated the bank’s continuous efforts to be the most preferred Bank in Egypt, placing ADCB Egypt on a path of success since its launch in the Egyptian market last year. Ihab El Sewerky, the Managing Director and CEO of the Bank, commented: “First of all, I would like to thank ADCB Egypt’s loyal employees, who played a prominent role in the success of ADCB Egypt and the bank group in UAE, for their confidence and trust in our ability to succeed. A year and a half ago, we began implementing an ambitious and pragmatic strategy that reflects the progress and expertise of the Abu Dhabi Group. Our goal was to place ADCB Egypt at the forefront of distinguished banks in the Egyptian market. Although this was a challenging year for ADCB Egypt, our distinguished workforce was able to overcome many challenges and achieve progress in a short amount of time, and this is only the beginning as the bank’s strategy depends on an integrated plan that works on several axes to make a real impact on our customers, employees, shareholders, and society.”
El Sewerky added: “These awards are a strong start and an impetus for the bank to continue to progress, especially in light of the current economic climate and the presence of a robust banking system that supports the growth of banks while actively protecting consumers and the economy. The bank recorded an 83% increase in net profits at the end of the first half of 2021 compared to last year’s same period. The customer base also grew by 10%, and lending and deposit portfolios increased by 20% compared to the previous year. In addition to leading the digital transformation boom, the number of digital services users has increased by 320% since September 2020, and remittances and payments through digital channels have increased by about 50%. Many distinguished products and services were launched for our customers, and a new vision for community service and financial inclusion has been planned.
As a result of the above, ADCB Egypt obtained five honorable awards, three of them in digital transformation and technological development. ADCB Egypt is the fastest growing digital bank, the best in digital transformation, and is awarded Outstanding IT Transformation for the year 2021. The bank works upon transferring the expertise and experience of the Abu Dhabi Commercial Bank Group in the UAE. The Group is the third-largest banking entity in the UAE and one of the most important banks in the Gulf region. It also occupies a place at the forefront of Arab banks with its innovative digital banking services. For this reason, ADCB Egypt has made digital transformation its top priority and within one year succeeded in taking quick and practical steps towards digital transformation to achieve the convenience and satisfaction of customers. Many transactions were digitized, and new services were launched for both individual and corporate clients, contributing to the easy and safe completion of transactions, especially during the pandemic.
The bank’s award for best financial inclusion initiative was also well deserved as it presented an integrated vision based upon empowering different groups in the society by focusing on people of determination in the banking sector. This considerable segment of society is vital for ADCB Egypt’s financial inclusion initiative, as reaching that segment would help achieve social and economic development. Aligned with CBE’s goals for financial inclusion, the bank has taken strenuous steps to empower people with special needs economically to enable and integrate them into the banking sector.
Abu Dhabi Commercial Bank in Egypt is distinguished by its focus on youth, through learning and development we are able to mold young minds to become career oriented individuals that match ADCB’s vision of service excellence. The bank launched the Abu Dhabi Commercial Academy, the first academy of its kind to provide training for fresh graduates, both theoretically and practically, and through workshops, which qualified the bank to obtain the “Best Graduate Employment Program” award for the year 2021.
It is worth noting that the Digital Banker Middle East and Africa Awards for Innovation in Retail Banking 2021 and the British Global Business Outlook Awards reflect the innovations, achievements, strategies, and developments inspiring change that occur within the global financial community. The winning institutions are selected based on extensive studies done by the judging committees. The committees consist of inspiring personalities seasoned with distinguished and exceptional professional experience in the financial world.
