In its Q2 2024 financial results, ADCB reported significant growth driven by increased net interest and non-interest income
Net interest income in the fourth quarter increased by 17 per cent year-on-year to Dhs3.41bn
The UAE banks invested in various projects in renewable energy, waste-to-energy, and green technology in 2022
The bank said its strong performance was driven by broad-based income growth and improved efficiency metrics
The bank’s net interest income rose by 33 per cent to Dhs2.85bn while non-interest income surged by 34 per cent to reach Dhs1.06bn
The bank said it continuously explores opportunities to boost shareholder value but does not foresee any transaction of this nature materialising in 2023
The sector is expected to maintain a stable outlook in 2023 driven by growing demand for digital services and industry competitiveness
The bank has adopted a ‘Green Bond Framework’ to provide a long-term platform to support further mobilisation of capital for green projects
The Buna platform offers stringent levels of governance and transparency through increased oversight from central banks as well as effective reporting and compliance mechanisms
The ALL-ADCB Infinite and Signature credit cards offer members benefits at over 30 Accor properties in the UAE
Customers are expected to transfer to the ADCB banking platform during the first half of 2021
The bank recorded $450m in provisions and interest in suspense toward NMC, Finablr and associated companies last year
It reported a nine-month net profit from January-September 2020 of Dhs2.802bn, down 33 per cent compared to Dhs4.196bn in the corresponding period last year
The bank had asserted in March that no employees would be made redundant as a result of the Covid-19 pandemic
The moves mark the official beginning of the dismantling of NMC, which once had a market value of up to $11bn
Its net loans stood at Dhs247bn and customer deposits at Dhs263bn as of the end of Q1 2020
Shetty claimed he was also a victim of fraud and put the blame on a “small group of current and former executives”