Abu Dhabi Commercial Bank Value Increases By 8.7%, Reaching AED 10.5 Bn In 2024

Abu Dhabi Commercial Bank (ADCB)'s value has increased by 8.7% compared to last year, reaching AED 10.5 billion, revealed leading global brand valuation consultancy Brand Finance's 2024 Banking 500 report.

This surge helped the bank to move up four places to rank 109th in Brand Finance's latest report. Also, ADCB Group CEO Ala'a Eraiqat was honored as one of the top 10 bank CEOs worldwide for Brand Guardianship.

ADCB is the only financial institution from the region to be included in this prestigious global list. Brand Guardians are CEOs who focus on building long-term business value by considering the needs of all stakeholders including employees, investors, and the wider society.

Savio D'Souza, Senior Director at Brand Finance, praised ADCB for solidifying its reputation as a financial powerhouse in the United Arab Emirates (UAE).

"The bank's robust growth is fuelled by its strong financial position, while its distinguished record of innovation, digital transformation initiatives, and steadfast leadership in climate action have further bolstered its performance and global standing," D'Souza was quoted as saying by WAM.

"These initiatives enhance loyalty amongst current stakeholders while strategically positioning ADCB to attain new, ambitious targets," he added.

ADCB also enhanced its brand reputation by prioritizing Environmental, Social, and Governance (ESG) initiatives. Amongst UAE banks, it ranks highest across all three ESG metrics: Committed to the environment, committed to social aspects, and well managed and well governed, as per the Brand Finance data.

Moreover, ADCB also continued to hold its AA+ Brand Strength Ranking alongside a Brand Strength Index (BSI) rating of 78%, which was 76% in 2023.

Last year, the bank demonstrated regional leadership by joining the global Net Zero Banking Alliance (NZBA) and increasing its sustainable finance commitment to AED 125 billion by 2030. This decision was made after incorporating sustainability into ADCB's five-year corporate strategy.

The 16th edition of the World Future Energy Summit earlier this month kicked off at the Abu Dhabi National Exhibition Centre (ADNEC), focusing on sustainability.