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In culmination of his strong performance during 2021
ADCB Egypt wins 4 international Prestigious awards as the best new and fastest growing bank in Egypt
El Sewerky: Focusing on customer satisfaction and supporting projects is the main engine for growth and earning awards for the best and fastest growing in the corporate and retail banking sectors.
“World Business Outlook” announced that Abu Dhabi Commercial Bank Egypt has been honored with four prestigious awards, “Best New Bank” and “Fastest Growing Bank” as well as “Fast Growing Bank in both the retail banking and corporate banking sectors”. This accolade comes after a year full of achievements which reflects the success of the bank’s strategy and efficiency in achieving tremendous growth in record time, as the bank continued to achieve strong financial performance, which prompted the bank to reach the lists of the fastest growing in Egypt over the course of 2021.
Abu Dhabi Commercial Bank succeeded to attain a huge increase in financial results, as the bank recorded a net profit of 710 million pounds at the end of the year, with a growth rate of 45% compared to the end of 2020. The rate of return on equity reached 15.1%. Total assets recorded an increase of 41% to reach 48.4 billion pounds by the end of 2021 compared to the same period. The balance of loans and facilities grew by 28% and customer deposits increased by 41%. Abu Dhabi Commercial Bank succeeded in attracting new customers and achieved an increase in the customer base by 15% during 2021 across all business sectors that witnessed tremendous and balanced growth at the same time.
The award for “The fastest growing in the retail banking sector” is driven by the bank’s efforts to expand in the field of retail banking by achieving leadership in the field of digital banking services and products, which the UAE group is distinguished by on the regional level, and the retail banking portfolio for individuals amounted to about 7.4 billion pounds at the end of December 2021, compared to 6.2 billion pounds at the end of December 2020
Abu Dhabi Commercial Bank – Egypt achieved a significant growth in the corporate loan portfolio, driven by the increase in financing activity, where the rate of increase in loans for small and medium projects reached 50% and the loan portfolio for large companies increased by 30% at the end of December 2021 and compared to the end of December 2020, believing in the bank’s role in supporting companies and being attentive to medium and small entities , which represents one of the important elements to achieve growth, and which also has long been of interest of the Central Bank of Egypt, all the previously mentioned factors have helped Abu Dhabi Commercial Bank to receive the award for the fastest growing in the corporate sector.
In this context, Mr. Ihab El Sewerky, CEO and Managing Director of ADCB Egypt commented: “First of all, I would like to thank the team of ADCB Egypt, who played a prominent role in reaching this honorable achievement, and to the bank group in the UAE, which showed great support for the bank’s growth in Egypt through the implementation of our ambitious strategy to reach the top of the list of distinguished and fastest growing banks in the Egyptian market.”
El Sewerky added: Focusing on customer satisfaction and being attentive to supporting projects is the main engine for growth and earning awards for the best and fastest growing in the corporate and retail banking sectors. Our strategy is based on an integrated plan on several axes to make a qualitative leap and a real impact on the level of customers, employees, shareholders and society by accelerating the digital transformation that enhances our commitment to providing the highest level of banking services and improving efficiency levels as well. We look forward to further growth and development in all services catered by the bank to its clients, and we are committed to achieving sustainable value and serving the community in line with Egypt’s vision and the Central Bank’s guidance.”
It is worth noting that Abu Dhabi Commercial Bank has achieved balanced growth at the level of all activities and business sectors while maintaining efficiency and risk ratios in line with this growth and achieving business sustainability and customer satisfaction at the same time. And in order to continue the bank’s expansion plan, the capital adequacy ratio reached 21.8%, exceeding the established regulatory limit, and this coincided with the bank’s official completion of all procedures to raise the issued and paid-in capital to 5 billion pounds, to come at the forefront of banks compatible with the prescribed capital increase.
