The focus of ADIB's strategy remains on delivering an award-winning customer experience across all segments in an increasing number of business lines and geographies. The customer-centric strategy places an emphasis on mutually beneficial relationships, service, innovation and convenience and is reinforced by robust enterprise risk management and best practice controls across the Group.
This has seen ADIB grow its deposits by 18.2 per cent to AED 79.0 billion and its customer financing assets by 15.4 per cent to 64.9 billion while simultaneously managing its cost of credit and impairments on the legacy real estate exposures. As a result, total non-performing accounts as a percentage of gross customer financing decreased to 7.1 per cent vs. 9.6 per cent at
The business highlights for Q2 2014 were:
The approval by the
The continued expansion into new customer segments, including expatriates and emerging commercial entities, while remaining loyal to the core
The Bank maintaining its position as one of the largest retail banking networks in the
A strong performance across all banking related businesses units saw ADIB's net customer financing assets increase by 5.1 per cent vs.
Customer deposits grew to AED 79.0 billion, an increase of 18.2 per cent from AED 66.9 billion at the end of
Maintaining a conservative policy of non-performing asset recognition and remedial management, including taking an additional AED 159.8 million in total credit provisions, to ensure a healthy pre-collateral non-performing asset coverage ratio of 82.2 per cent of the impaired portfolio, net of write-offs.
The establishment of Adimac, the Group's merchant-acquiring
Most Popular Stories
- Bently Creates Alabama Small Business Commission
- California King Fire Roars Out of Control
- Mercedes Rolls Out S550 Plug-in Hybrid
- Is Alibaba's IPO Price a Fairytale?
- Kardashian: Kanye Never Told Fan in Wheelchair to Stand Up
- SBA Kicks off Hispanic Heritage Month
- CalPERS Pulls Out of Hedge Funds
- U.S. Tobacco Growers Lose Last of Price Supports
- Poverty Rate Drops for First Time Since 2006
- Two-thirds of Hispanics Doubt Media Accuracy