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ADCB’s brand value hits AED 10.5bn in 2023

ADCB’s brand value hits AED 10.5bn in 2023
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Abu Dhabi – Mubasher: The value of Abu Dhabi Commercial Bank’s (ADCB) brand grew 8.70% year-on-year (YoY) to AED 10.50 billion in 2023.

The bank ranked 109th in the 2024 Banking 500 report from Brand Finance, moving up four places from last year, according to the Emirates News Agency (WAM).

The report also recognised Ala’a Eraiqat, Group CEO of ADCB, among the world’s top 10 bank CEOs for Brand Guardianship, the only representation by a financial institution from the region.

Brand Guardians are CEOs who sustainably build business value by balancing the needs of all stakeholders, including employees, investors, and wider society.

Furthermore, Brand Finance kept its ‘AA+’ Brand Strength Ranking for ADCB.

Savio D'Souza, Senior Director at Brand Finance, said: “ADCB is continuing to solidify its reputation as a financial powerhouse in the UAE, as evidenced by promising improvements across key metrics in this year’s ranking.”

“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 added.

ADCB logged a net profit of AED 8.20 billion in 2023, a 28% annual leap from AED 6.43 billion.