Abu Dhabi Commercial Bank to open in Egyptian market on Sunday

Abu Dhabi Commercial Bank PJSC (ADCB) is set to open in the Egyptian market on Sunday, becoming the fifth Gulf institution to join the Egyptian banking system.

ADCB has total assets worth 1.75 trillion Egyptian pounds ($110.3 billion) and is ranked third largest operating bank in the United Arab Emiriates.

“ADCB is expected to play a critical role in the Egyptian market, as we intend to extend unprecedented and innovative banking services to clients … built on an ambitious plan that targets expanding through establishing new branches to reach the targeted clients,” ADCB managing director and chief executive Ihab ElSewerky said.

The lender’s vision is to become customers’ preferred bank by providing upgraded and safe banking solutions, while embarking on a digital transformation breakthrough with a focus on achieving client satisfaction and sustainability.

ADCB’s strategy in Egypt focuses on five key pillars; attaining growth through tapping into available opportunities in the domestic market; achieving sustainability through deposits base; and reaching a high degree of efficiency and quality regarding the services and the financial products the bank provides.

The strategy also focuses on dealing with likely risks according to a clear strategy, and attracting as well as attaining and improving the bank’s employees to maintain high performance levels.