Islamic finance awards 2013: Abu Dhabi Islamic Bank
Best Islamic bank in UAE
ADIB stands out as a quality business run efficiently with a clear strategy for growth. Through 2012 it managed to increase margins while expanding and boosting provisions, a sign of a bank with capacity.
Ever since a new brand launch in 2010, ADIB has won plaudits for customer services in the UAE, and it has built on that with a series of initiatives in 2012: community banking, senior citizen and retiree services, a partnership with telco Etisalat for a new card, a quick-approval finance product and a number of technology initiatives.
ADIB is run though 73 branches across the UAE and now reaches about half a million customers. Revenues, profits, balance sheet, deposits and net customer financing were all up in the third quarter of 2012, while its capital adequacy ratio stands at 16.92%, one of the healthiest ratios in the region. The bank is growing internationally too, opening in London in May and in Iraq in July to go with operations in Saudi Arabia, Qatar, Sudan and Egypt.