On Sunday, the GCC’s fifth largest banking entity, the Abu Dhabi Commercial Bank (ADCB) will enter into the Egyptian market, bringing with it total assets of AED 405bn (EGP 1.75trn).
ADCB is a leading banking group that ranks third in the UAE’s banking financial sector. It offers a diverse and integrated range of advanced banking services and distinguished activities specifically designed to suit the needs of all its customers.
The award-winning bank’s services include retail banking services, corporate and commercial banking, as well as treasury, investment and real estate management services.
After completing the merger and integration process with the Union National Bank (UNB) and its acquisition of Al Hilal Bank, the ADCB Group adopted a strategic plan to improve customer experience and achieve the highest levels of excellence. This is one of the reasons behind the group’s complete focus on meeting customer needs and requirements.
The group is also working on innovation in all banking operation services, to reach out to the largest possible number of customers, and ensure that they receive an excellent experience.
ADCB is distinguished by its ability to provide the necessary support to all local, regional and international institutions looking to manage their businesses locally and internationally. This is set to take place through the bank’s international outreach, wide experience and financial strength.
AFCB – Egypt is expected to play a pivotal role in the coming period through its network of branches across the Arab region. The bank is set to focus on providing unprecedented and innovative banking services to its individual and institutional clients in the Egyptian market.
This will occur through an ambitious plan that includes adding new services and branches to reach target segments of customers. The bank continues to study the development of its geographical presence and attract more customers, while continuing to provide distinguished service to its current and potential customers in a better way.
Ihab El Sewerky, Managing Director and CEO of ADCB, said that the bank has put in place ambitious expansion plans in the Egyptian market during the coming period. These are commensurate with the ADCB’s status following the recent merger process.
El Sewerky pointed out that the bank has a vision to become the preferred bank in Egypt, through a range of advanced and secure banking solutions for customers. It also aims to lead the digital development boom in the local market, with a strong focus on sustainability and customer satisfaction.
“The bank’s strategy is focused on five basic axes: achieving growth by taking advantage of the opportunities available in the local markets, sustainability through developing the deposit base, achieving the highest levels of quality and efficiency in all of our financial products and banking services, and dealing with the risks that the bank is exposed to,” he elaborated.
El Sewerky added that the bank has adopted a number of strategic goals to achieve rapid growth in the market, by continuing to provide various services that its competitors provide. This comes in addition to providing carefully selected and innovative products and services to its customers, including new concierge services, and priority in conducting banking transactions.
The bank has also launched new payment solutions, such as credit cards, money transfers, and digital wallets.
“In addition, we provide management services, which include various investment products, and improving treasury services according to the needs of our customers,” El Sewerky said. ”We partner with software providers to provide accounting services to small- and medium-sized enterprises (SMEs).”
He stressed that the development process of an expansion plan takes into account sustainable growth, while ensuring an improvement in the cost-to-income ratio. It also takes into account an understanding of the new brand through steps to increase awareness of the ADCB brand.
According to El Sewerky, the bank aims as part of its plan to improve liquidity and reduce the cost of financing. It is set to undertake this aspect by supporting the growth of savings and current accounts, which will see the launch of new products and strengthening various financing systems. It will also see the implementation of new campaigns and plans, as well as enhancing collection capabilities through improvements in systems and processes.
He explained that the bank aims to enhance its operations and digitisation through the latest technologies, to improve the customer experience. This will see the bank introduce new digital services and products, such as online and mobile banking services, as well as increase its ATM capacities.
The bank is also looking to launch a corporate internet banking platform to finance current its business operations, alongside new cash management products. There is also set to be the implementation of processes focusing on providing a smooth service experience to customers from start to finish.
“We also seek to develop the technological infrastructure to implement more new systems for different sectors, building and implementing business automation for all internal bank and customer service departments,” El Sewerky said, adding
“We aim to implement the best governance and controls practices, and work to maximise the benefits of the bank’s employees by developing and employing the best banking sector professionals. We also seek to develop policies and procedures in the field of human resources with the support of technical solutions.”
He pointed out that the bank gives top priority to its customers, as it intends to continue providing the opportunities for its Egyptian market customers to invest in multiple assets, including money markets and fixed income.
ADCB will also support the growth of its Egypt operations and local customer base by providing exceptional banking services and products, which will be announced in the next stage.
“We aim to build and develop a lasting partnership with our customers, in addition to becoming the preferred and safest business partner for customers,” El Sewerky noted, “This will be achieved through growth of our customer base and a special focus on meeting their requirements and needs, alongside providing smooth, innovative, smart and safe services and products, and treating them fairly and impartially.”
He emphasised that the ADCB – Egypt’s strength stems from the combination of its highly-experienced and professional employees in Egypt, and its firm roots in the UAE. He added that these parameters will enable the bank to achieve its goal as the preferred bank for customers wishing to establish projects and businesses in the Middle East.
It is worth noting that ADCB Group won several awards over 2019, including the award for “Best Small and Medium Enterprises Bank in the Middle East” Excellence Awards by Euromoney. It also won the “Best Bank for Trade Finance Services” among Global Finance Awards for the Best Bank for Digital Solutions in the World.