ArabianBusiness.com - Middle East Business News
Monday, 23 November 2009 12:14 UAE time

YOUR DIRECTORY /

Abu Dhabi Commercial Bank

Main Category: Asset Management
First Address : 939
Second Address : Al Salam Street
City : Abu Dhabi
Country : United Arab Emirates
Phone: 971 2 6962222
Fax: 971 2 6450384
Email: info@adcb.com
Website: www.adcb.com


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ALL STORIES LIST


Transparency pays

ADCB's move to make public the pay packets of senior executives needs to be applauded, says Damian Reilly.

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Al Mal keeps short-term underperform on UAE's ADCB

Broker expects non-performing loans at Abu Dhabi Commercial Bank to continue to rise.

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ADCB announces big slump in Q3 profit

UPDATE 1: UAE's third largest bank by assets posts 90% fall in Q3 profit from hefty provisions against bad loans.

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ADCB has $609m exposure to Saad, Algosaibi

Abu Dhabi Commercial Bank says it will have to book additional provisions - prospectus.

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UAE's ADCB files $30m claim against Saudi's Saad unit

Claim is the first against the troubled group by ADCB and more claims are likely to follow.

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Bank warns action over mortgage lending claims

Abu Dhabi Commercial Bank says reputation damaged by research company report.

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UAE cbank rejigs interbank rate panel to spur lending

Central bank hopes change in panel will lower rates and spur lending.

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ADCB selects Sage's Prospero for wealth management

Abu Dhabi Commercial Bank rolls out Sage’s Prospero wealth management system to support its portfolio and wealth management services

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Costs of Saudi defaults mount at UAE banks

Banks make provisions after the UAE central bank met with bankers on July 16.

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UAE's ADCB Q2 profit down 51%

Abu Dhabi Commercial Bank books provisions against losses from the financial crisis.

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Saad picks adviser on $6bn debt talks

Troubled Saudi group puts forward Credit Suisse as an adviser to its bank lenders, say sources.

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Abu Dhabi Commercial Bank launches loans range

New products pitched at SME customers looking to meet working capital requirements.

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Abu Dhabi Commercial Bank sees profit fall 23%

Results show $96.38m net profits for first quarter 2009, beating two analysts forecasts.

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Dolphin seeking to refinance $3.45bn loan - sources

Abu Dhabi-based Dolphin Energy looking to replace 4-year debt maturing this year.

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Lending restrictions expected to be eased in Abu Dhabi

Abu Dhabi's five largest banks are expected to ease lending restrictions to investors this week.

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UAE ends mixed; Kuwait ends low on profit taking

UPDATE 5: Banks lead Oman and Abu Dhabi's benchmark indices to higher close.

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Abu Dhabi's ADCB posts $38.12m Q4 loss

Abu Dhabi Commercial Bank misses analysts' forecast that ranged from $110.82-129.43m.

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AMIF reveals $188m UAE infrastructure investment

ADCB Macquarie Infrastructure Fund supports Abu Dhabi gov't projects.

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Abu Dhabi Commercial Bank delays Q4 results

Emirate’s lender follows central bank’s advice; will declare Q4 results on Feb. 5.

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ADCB will still lend for infrastructure projects

One of the UAE's largest banks will continue to lend for government backed schemes.  

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Bank ratings cut on loan concerns

Analyst voices worries over loan books at Abu Dhabi Commercial Bank, First Gulf Bank in research note.

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Moody's downgrades outlooks for UAE banks

Investors services agency takes action amid mounting liquidity pressures in economy.

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UAE loan growth may slow to 10% - ADCB

UPDATE 1: CEO Eirvin Knox says 50% loan growth 'not sustainable' in current economic climate.

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NBAD would welcome merger - CEO

Tomalin says management of Abu Dhabi's largest bank in favour, but decision up to gov't.

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ADCB exposed to funding pressures - Merrill

US bank says Abu Dhabi Commercial exposed due to amount of wholesale funding.

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Gulf banks face merger pressure

Speculation intensifies Abu Dhabi's leading banks to face first forced merger in the Gulf region.

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Abu Dhabi bank shares soar for second day

Merger speculation sees Abu Dhabi's ADCB up 10% and NBAD up 7% in early trading.

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UAE banks downplay merger talks

Abu Dhabi banks ADCBl and NBAD describe merger reports as just 'rumour' as lenders' share prices soar.

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Lehman exposure limited - UAE banks

Three of Gulf state's largest lenders say they have limited or no exposure to financial turmoil.

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ADCB replaces chairman in shake-up

Saeed Al-Hajeri and four other board members at bank go, no reason given.

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ADCB launches legal action over collapsed US investment

Abu Dhabi Commercial Bank sues US firms for fraud over failed investment vehicle.

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ADCB profit up 34% in Q2

Abu Dhabi Commercial Bank posts second-biggest quarterly-profit ever, profit of $178.5mn.

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ADCB to issue $1.2bn of bonds in Asia

Abu Dhabi lender looking to tap into growing opportunities in Malaysia, Singapore, sources say.

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Interpol no longer chasing ADCB chief

Eirvin Knox says Interpol has removed a notice seeking his detention over 'baseless' charges.

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ADCB approves Gulf Capital financing

UAE lender agrees AED800m medium term revolving facility.

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ADCB bank CEO takes action on Interpol warrant

CEO Eirvin Knox takes legal action in Philippines after Interpol seeks arrest.

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Revealed: Interpol arrest warrant for ADCB CEO

Warrant issued for Eirvin Knox related to divorce and not bank's activities.

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Interpol issues warrant for CEO of ADCB

UPDATE 3: Warrant for Eirvin Knox issued in Philippines, related to divorce case.

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ADCB buys RHB stake, see profits doubling

Abu Dhabi lender acquires 25% of Malaysia's fourth largest lender for $1.23bn.

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ADCB to double earnings, plans acquisition frenzy

Abu Dhabi lender also to sell as much as $1.31bn of bonds to finance expansion.

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ADCB plans Islamic unit after year delay

Unit will start operations in fourth quarter, services will include arranging sale of Islamic bonds.

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Abu Dhabi bourse plans Asia roadshow

Some of emirate's biggest listed companies to accompany stock market on public relations drive.

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The art and science of SME

Regional banks are waking up to the need for services catering to start-up enterprises.

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ADCB urges UAE to ditch dollar peg

Gov't should reconsider peg in light of long-term growth prospects in region, chief executive says.

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Abu Dhabi to get 200 new buildings by '09 - ADCB

Buildings part of gov't attempts to solve severe housing shortage in emirate.

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ADCB slashes lending rates

Abu Dhabi Commercial Bank reduces rates in move that may spur property prices and inflation.

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Gulf banks conceal subprime losses

Ratings agency Standard and Poor's warns lenders may be hiding shortfalls related to mortgage crisis.

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ADCB eyes $1.2bn stake in Malaysian bank

Abu Dhabi Commercial Bank to buy into RHB Capital to offer Islamic financial services.

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Business boom time for Abu Dhabi banks

UAE capital's three top banks poised to triple business as GCC powers ahead, study says.

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Subprime crisis to hit Gulf banks' earnings

Regional banks who thought investments were safe discovering underlying assets subprime, bankers say.

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Chip and pin

Value-added applications and increased security are helping to provide a business case for issuers and merchants to drive the regional switch to EMV chip payment cards.

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ADCB sells $546mn in bonds

Part of a borrowing programme, Middle East investors buy 60% of the bonds, Standard Chartered says.

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Big bank theory

Michael H. Tomalin, chief executive of National Bank of Abu Dhabi, tells Daniel Stanton about his expansion strategy, and how to be number one.

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Banking and finance

Region's banking leaders on how financial markets will develop in the future and the direction the industry needs to take.

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ADCB stems profit slide

Abu Dhabi Commercial posts first profit growth in three quarters as impact of stock market crash fades.

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ETA Star signs loan agreement with ADCB

Property developer ETA Star has signed a loan agreement with Abu Dhabi Commercial Bank (ADCB) for the construction of its Taj Exotica Resort & Spa.

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UAE property to ride out global credit squeeze

Population growth, shortages of supply to support UAE's real estate demand.

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ADCB buys $51mn stake in Dubai investment bank

Abu Dhabi Commercial acquires 41% of Gulf Merchant Group, gains assets outside UAE.

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Invitation only

Windows Server 2008 - Microsoft's latest effort on its path to world server domination - is scheduled for release by the end of 2007. But before this the vendor needs to push the system to its limits - hence its invitations to three regional enterprises to run advance pilot projects.

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Three take Barari stake

Al Barari has finalised a deal that will see Abu Dhabi Commercial Bank (ADCB), Burooj Properties and Oman Emirates Investment Holding Co SAOG (O&E) each taking a minority stake in its flagship project, the US $1.8 billion (AED6.6 billion) Al Barari residential development at Nad Al Sheba in Dubai.

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Fighting against the merger mania

Each week Arabian Business turns the spotlight on a leading company.

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ADCB plans Islamic unit

Abu Dhabi Commercial Bank says an Islamic banking subsidiary will be operational by end of year.

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What’s the catch?

Craig Holding gives his verdict on Abu Dhabi Commercial Bank's new loan for expatriates.

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ADCB rules out immediate NBAD merger

Abu Dhabi Commercial Bank says it sees no merger with National Bank of Abu Dhabi for at least two years.

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ADCB set for recovery after weak Q2

Abu Dhabi Commercial Bank is poised to end five straight quarters of weak profits, analysts say.

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ADCB has no merger plans

Abu Dhabi Commercial Bank says it has no immediate plans to merge with a UAE rival.

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ADCB pioneers Microsoft Windows Server 2008

Abu Dhabi Commercial Bank (ADCB) is to be the first financial institution in the region to adopt Microsoft Windows Server 2008, Microsoft announced yesterday.

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Banking in the GCC

Will the banking industry be the next sector to feel the wind of change sweeping through the Gulf?

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ADCB buy makes sense for NBAD

NBAD CEO says no merger under consideration, but banking consolidation makes sense.

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ADCB and Fidelity educate investors

Abu Dhabi Commercial Bank (ADCB) has partnered with Fidelity International, the investment management and services house, to launch a high level investor education programme for its customers.

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Emaar to enveil new tower

The first of two Boulevard Plaza towers in the Burj Dubai district is set to launch this Sunday.

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All the world's a stage

Top musical comes to Abu Dhabi.

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ADCB and Fidelity educate investors

Customers of Abu Dhabi Commercial Bank will be able to enrol in investor education programme.

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IPO income slump damages ADBC profits

Declining stock markets in the UAE has dragged down income for the Abu Dhabi banking giant.

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Indians get new UAE bank service

ADCB has linked up with UTI Bank to bring easy banking to non-resident Indians.

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Borrowed time

Why the West's debt nightmare could be heading here.

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Etihad rules out cancelling A380

The Abu Dhabi airline - which expects revenue to rise to $1.25bn this year - is still looking to expand its fleet.

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ADCB first to outsource ATMs

NCR will remotely monitor and support ATM network.

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Branching out

Retail banks are having to manage their branches better as they run out of space on the high street.

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ADCB ATM management outsourced to US firm

Abu Dhabi Commercial Bank (ADCB) has outsourced the incidence management of its ATMs to US firm NCR.

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ADCB fights money laundering with Ace Scan Solutions

Abu Dhabi Commercial Bank (ADCB) is to use software from Ace Software Solutions, a provider of fully integrated Straight Through Processing (STP) enabled payments and transaction processing solutions for the banking sector, to improve its compliance with anti-money laundering (AML) regulations.

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Real estate investment trust for DIFC

Dubai International Financial Centre (DIFC), Abu Dhabi Commercial Bank (ADCB) and the real estate division of Macquarie Bank of Australia have announced the signing of a memorandum of understanding to develop a real estate funds management joint venture.

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The joy of Six

Since its birth 20 years ago, Six Sigma has become one of the most widely used quality management tools in the world but remains a relatively new phenomenon in the Middle East. With many regional chief executives finally starting to apply the methodology, CEO Middle East trades blows with the master black belts to find out what they could do for your business

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Eirvin Knox: Opportunity Knox

Banks across the region are making vast amounts of profit from the huge growth in real estate, newly liberalised property laws and an unprecedented demand for retail space and consumer spending. Eirvin Knox, CEO of Abu Dhabi Commercial Bank, tells James Bennett how he has taken the finance house to close to the top spot in only two years.

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READER COMMENTS

  1. Dubai population grows 1.9% in Q2 07
    23 Nov ' 09 at 11:36
    While we all should agree that Dubai was over ambitious and the financial crises has left a big dent on the economy. Also the truth is...   More  »
  2. Dubai developers see negative press reports decline 04
    23 Nov ' 09 at 10:32
    yes indeed. .a very bad idea but when you've got shed loads of money, you can do anything. Furthermore, let me think where all the...   More  »
  3. Tougher checks proposed for foreign teachers 03
    23 Nov ' 09 at 08:17
    This must be done in order to get a qualified teacher. What is written on the CV should not be assumed correctly. There should be a...   More  »

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