This bank has gone from strength to strength in the last few years, under the guidance of its ambitious yet cautious CEO, Ala’a Eraiqat.
The respected bank boss effectively steered the UAE’s third largest bank out of the crisis and grew its asset by three per cent between 2011 and 2012.
In April 2013 the bank ended a five-year legal battle with Standard & Poor’s and Moody’s Investors Services and banks including Morgan Stanley and BNY Mellon in 2008 over a $10 million investment in a so-called “structured investment vehicle” known as Cheyne Finance. An out-of-court settlement deal was struck.
The Abu Dhabi index was up 24.4 per cent in the first four months of this year, while Abu Dhabi Commercial Bank jumped 52.8 per cent in the same period.