Press Release Content

Save as you spend with the ADCB Lulu MasterCard credit card.

ADCB, EMKE Group, one of the UAE's largest retailers, and MasterCard Worldwide today launched the ADCB Lulu MasterCard credit card, which offers a wide range of savings and rewards on every purchase.

The ADCB Lulu MasterCard credit card, ADCB's first co-branded product, allows cardholders to earn LuluPoints for every dirham they spend. Cardholders are rewarded 1.5 LuluPoints for every AED 1 spent at Lulu, Emirates General Markets and Al Falah Plaza outlets in the UAE, and 1 LuluPoint for every AED 1 spent elsewhere.

The ADCB Lulu MasterCard Credit Card is available in Platinum, Gold and Standard versions. The Gold and Standard cards are free for life; the Platinum Card carries an annual fee of AED 500.

Mr. Ala'a Eraiqat, Deputy CEO of ADCB said "The new ADCB Lulu MasterCard credit card demonstrates ADCB's commitment to ensure customers get the most for their money".

He continued "The ADCB Lulu MasterCard credit card lets customers earn LuluPoints every time they use their card - not just at Lulu outlets - so it is a great way to maximize the value for money. Moreover, cardholders can redeem their LuluPoints instantly at the Lulu outlets for free shopping after accumulating as little as 5000 points."

Mr. Arup Mukhopadhyay, Group Head of Retail Banking at ADCB further commented "Lulu and MasterCard were the obvious choice for ADCB when it came to launching the ADCB Lulu MasterCard credit card. This is our first co-branded credit card and we decided to go with Lulu because of its long standing position in the market and its reputation for providing good value and high quality. ADCB and MasterCard have a long-standing association and share similar ethos of providing innovative customer centric products."

Mr. Yusaffali M.A, Managing Director of EMKE Group, said "We're pleased with this strategic alliance with ADCB to launch a new co-brand card for our customers." "As a retailer with locations across the Emirates we needed a bank that is truly national and ADCB fits the bill perfectly." he added.

Mr. Denzil Lawson, General Manager, Middle East and Levant, MasterCard Worldwide, said, "MasterCard is delighted to enhance the long and successful association with ADCB. The innovative ADCB Lulu MasterCard credit card is another example of how MasterCard works with customer banks and associates such as the EMKE Group to develop initiatives that are meaningful to cardholders and their lifestyle choices. The ADCB Lulu MasterCard credit card offers cardholders the convenience of payment cards while benefiting from a reward program while shopping."

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About ADCB

Abu Dhabi Commercial Bank - ADCB is a diversified full service bank.  Other than banking services that span corporate, retail and commercial banking, ADCB is active in the areas of treasury risk management, infrastructure, private banking and wealth management.

Our approach is driven by an ability to create value for our customers by leveraging our skills and expertise. Amongst UAE banks, ADCB enjoys one of the largest deposit bases with total assets as at 31/3/2008 of AED 114 billion and net profit for the first quarter of 2008 of AED 517 million.

Our strong franchise, supported by a network of 43 branches in UAE including 2 pay offices and 2 Kiosks besides 2 full fledged branches in India is reflected in our recent rating of Aa3, which is the highest awarded to a bank in the Middle East.

The Government of Abu Dhabi, through Abu Dhabi Investment Council, holds 65% of the capital while the rest is held by various UAE Institutions and Nationals. ADCB's market capitalization as of 31/03/2008 was AED 25.880 Billion (US$7Billion).

About EMKE Group

EMKE Group is one of the largest retailers in the GCC, with more than 60 outlets throughout the region. The Group operates popular brands including the Lulu chain of supermarkets, Emirates General Market and Al Falah Plaza, as well as other department stores, hypermarkets and shopping malls.

EMKE Group's retail chains cater to over 200,000 customers every day and enjoy over 32 percent of the total retail market share within the GCC, according to Planet Retail, UK based retail analysts. www.emkegroup.com

About MasterCard Worldwide

MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide.  As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 18 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants.

Through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.

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