ADCB Group is a leading UAE banking group that provides over 2 million customers with a full suite of products and services, spanning Retail banking, Private banking, Corporate and Investment Banking, and Treasury & Investments. ADCB operates a network of 46 branches and over 473 ATMs across the UAE.
On 1 May 2019, ADCB and Union National Bank merged and the combined entity acquired Al Hilal Bank, which operates as a separate Islamic banking entity under its own brand within the Group. The transaction reinforced ADCB’s position as the third largest bank in the UAE by assets. As at 30 September 2024, the Group’s total assets stood at AED 639 billion.
Mubadala Investment Company holds 60.69% of the Bank’s issued and fully paid up share capital. ADCB Group trades on the Abu Dhabi Securities Exchange (ADX) under the ticker of ADCB. As at 30 September 2024, ADCB’s market capitalisation was AED 62 billion.
| Key Figures (AED’000) | ||||
|---|---|---|---|---|
| Income Statement | 2017 | 2018 | 20191 | 20202 |
| Total net interest and Islamic financing income | 6,701,058 | 7,219,124 | 9,241,136 | 9,782,936 |
| Non-interest income | 2,194,266 | 1,962,321 | 2,481,004 | 2,688,311 |
| Operating income | 8,895,324 | 9,181,445 | 11,722,140 | 12,471,247 |
| Operating expenses | (2,947,581) | (3,083,501) | (4,517,679) | (4,526,341) |
| Operating profit before impairment allowances | 5,947,743 | 6,097,944 | 7,204,461 | 7,944,906 |
| Impairment allowances | (1,673,620) | (1,265,787) | (2,352,054) | (3,992,912) |
| Net profit for the period | 4,277,608 | 4,839,854 | 4,792,487 | 3,808,877 |
| Balance Sheet | 2017 | 2018 | 20193 | 20203 |
| Total assets | 265,003,295 | 279,830,338 | 405,094,825 | 411,156,301 |
| Loans and advances to customers, net | 163,282,230 | 166,425,762 | 247,833,080 | 238,975,702 |
| Investment securities | 49,191,657 | 52,362,234 | 73,442,662 | 88,205,984 |
| Total liabilities | 232,558,355 | 247,024,795 | 349,437,033 | 354,554,913 |
| Deposits from customers | 163,078,386 | 176,653,857 | 262,093,782 | 251,395,457 |
| Borrowings | 40,555,195 | 43,027,749 | 51,882,054 | 65,396,044 |
| Total equity | 32,444,940 | 32,805,543 | 55,657,792 | 56,601,388 |
| Key Indicators (%) | 2017 | 2018 | 2019* | 2020* |
| Return on average equity (%) | 15.0 | 16.3 | 10.5 | 7.0 |
| Return on average assets (%) | 1.58 | 1.71 | 1.18 | 0.86 |
| Basic earnings per share (AED) | 0.80 | 0.90 | 0.70 | 0.51 |
| Dividends per share (AED) | 0.42 | 0.46 | 0.38 | 0.27 |
| Cost to income ratio (%) | 33.1 | 33.6 | 39.6 | 36.3 |
| Capital adequacy ratio (%) | 19.09 | 17.26 | 16.30 | 17.22 |
| Common equity tier 1 ratio (%) | 13.96 | 13.40 | 12.93 | 13.91 |
| Tier I ratio (%) | 15.92 | 15.28 | 14.79 | 15.87 |
| Loan to deposit ratio (%) | 100.1 | 94.2 | 94.6 | 95.1 |
| Non-performing loans ratio (%) | 2.10 | 2.90 | 3.16 | 6.04 |
| Provision coverage ratio (%) | 162.9 | 130.2 | 123.2 | 94.3 |
| Cost of risk (%) | 0.81 | 0.57 | 0.80 | 1.45 |
1. The consolidated income statement comprises of results for the twelve month period ended December 31, 2019 for ADCB and its subsidiaries and the results for the eight month period ended December 31, 2019 for erstwhile UNB (including its subsidiaries) and AHB (including its subsidiaries) while the comparatives are of ADCB only.
2. Current period’s results, include the result of ADCB Group whereas prior year include the result of Union National Bank PJSC and Al Hilal Bank PJSC from the month of May’19 till Dec’19. Therefore, meaningful comparisons are not possible.
3. The consolidated balance sheet comprises of ADCB (including its subsidiaries), UNB (including its subsidiaries) and AHB (including its subsidiaries).
* Based on pro-forma financials, prior years are for the standalone ADCB entity.
In March 2020, the purchase price allocation was completed. As required under IFRS3, the fair value of loans and advances, investment securities and non-controlling interests as at the acquisition date were updated from the previous provisional amounts reported. Therefore, the comparative information has been restated to reflect these adjustments.
