Here’s why ADCB is rebranding its wholesale banking

UAE’s Abu Dhabi Commercial Bank (ADCB) is rebranding its wholesale banking as ‘Corporate and Investment Banking’, reflecting the expanded scope of services the bank provides institutions, corporates and small to medium enterprises (SMEs) across the region.

The new corporate and investment banking identity encompasses the division’s market-leading products and solutions, from sophisticated transaction banking and lending services to capital markets advisory and special financing, such as green bonds and loans.

ADCB said the recent integration of financial markets solutions, which provides investment and risk management services such as hedging and FX advisory, complements the bank’s lending business and enriches its comprehensive product offering for corporates.

The rebranded division brings in-depth knowledge and expertise across a range of markets with a strong understanding of the evolving needs of a wide spectrum of clients.

ADCB is a key partner for government entities, financial institutions, large corporates and commercial customers across the Middle East. The bank’s key partners include SMEs, a segment that is driving economic growth ambitions across the region.

The Abu Dhabi-based bank is leveraging its regional network, including its subsidiary bank in Egypt, to help corporate clients develop cross-border commercial and investment relationships along growing economic corridors.

ADCB drives sustainability

The UAE, which is hosting the COP28 global climate summit in November 2023, foresees an investment of Dhs600bn in clean and renewable energy over the coming decades to deliver its Net Zero by 2050 Strategic Initiative.

ADCB plans to play a key role in mobilising capital and helping its clients transition to a low-carbon economy and is committed to providing Dhs35bn in green financing by 2030.

The bank’s solutions are underpinned by innovative technology and digital platforms, such as the ADCB ProCash and ProTrade channels, for cash management and trade transactions respectively, which further enhance its capabilities to provide an exceptional customer experience.

The rebranding comes after a period of strong growth for ADCB’s corporate and investment banking, which has continued to deepen relationships with existing clients as well as forge new relationships with corporates and institutions across the region.

ADCB said the rebranding highlights the bank’s growing track record and expertise in structured financing, and financial and capital markets solutions.

2023 performance

Meanwhile, ADCB’s quarterly net profit soared by 27 per cent to $509.1m (Dhs1.88bn) in the three months ended March 31, from Dhs1.48bn for the same period a year earlier, despite the heightened uncertainty in the global economy and international banking sector.

The Abu Dhabi-based lender’s operating profit before impairment charges increased by 47 per cent to Dhs2.68bn while its operating income soared to Dhs3.9bn, a 33 per cent increase from the same period in 2022.

ADCB’s total assets edged up to Dhs501bn in the quarter, up 13 per cent from Dhs445bn for the same period a year earlier, driven by continued loan and deposit growth.

The bank said net loans and advances jumped 7 per cent in Q1 2023 to Dhs264bn compared to the first quarter of 2022 and customer deposits surged by 19 per cent to Dhs311bn.

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