ADCB Targets AED 20 Billion Net Profit With Ambitious 5-Year Growth Strategy

Abu Dhabi Commercial Bank (ADCB) plans to double its net profit to AED 20 billion over the next five years, aiming for an annual growth rate of about 20%.

According to a press statement released by the bank on Monday, this goal is part of ADCB's new growth strategy, which aligns with the UAE's economic progress and supports the country's rise as a global financial leader.

The strategy outlines a clear plan to increase ADCB's scale and reach, and the bank plans to raise its annual dividend payouts over the next five years, with a target of approximately AED 25 billion, which is a 50% increase compared to the previous five years.

ADCB is achieving an annual Return on Equity of over 15% each year, while also maintaining strong regulatory ratios and a solid capital position to support future growth.

Khaldoon Khalifa Al Mubarak, Chairman of ADCB's Board of Directors, said the Board of Directors "endorsed ADCB's ambitious strategy expressing their confidence in its successful implementation," according to WAM.

He highlighted that ADCB's management team, with active guidance from the Board, has a strong track record, having completed the previous strategy ahead of schedule.

Al Mubarak also mentioned that the bank's plans are focused on the nation's upcoming economic transformation. The bank's commitment to rewarding shareholders is central to its new strategy, ensuring ADCB continues to create lasting value for those who trust it.

ADCB Group Chief Executive Officer Ala'a Eraiqat mentioned that the bank has made significant progress since 2020 under the leadership of its Board.

As the bank continues its growth journey, it is expanding quickly and setting clear goals to create substantial value for shareholders. ADCB aims to achieve these goals through consistent growth, benefiting investors with both capital appreciation and income.

Eraiqat also shared that the Board has approved a detailed strategy outlining how to reach these objectives. As a forward-thinking financial institution, ADCB will focus on using digital and AI technology to improve customer experience, enhance risk management, and increase productivity.

Furthermore, the bank is committed to empowering UAE nationals to drive the transformation in the banking sector.