20 May 2008
ADCB Triumphs with Best UAE Retail Bank Award
Powerful business processes and profitable performance recognised by international panel of judges
Abu Dhabi, 20 May 2008: Abu Dhabi Commercial Bank has won Best Retail Bank - UAE and Best Customer Loyalty Programme at The Asian Banker Excellence in Retail Financial Services Awards for 2008.
Arup Mukhopadhyay, Group Head Retail Banking at ADCB, received the awards on behalf of the bank at a distinguished gathering of international retail bankers held in the Thai capital city, Bangkok, 16 May 2008.
Commenting on the award, Eirvin Knox, ADCB CEO said: “The Asian Banker Excellence in Retail Financial Services Awards Programme has been the undisputed benchmark for the performance of retail banks since 2001. We won Best Retail Banking Strategy & Execution at last year’s awards, and this year, we have proven that this strategy and execution has worked by winning Best Retail Bank in the UAE.”
Ala’a Eraiqat, Deputy CEO, ADCB, added: “These awards pitted us against more than 150 retail financial institutions from 23 countries in the Asia Pacific, Central Asia and Gulf region.”
“To win the special category award of Best Customer Loyalty Programme with our TouchPoints programme against such a wide variety of our peers is further proof that our focus on developing the most innovative customer acquisition, relationship deepening and retention strategies is bearing fruit in the marketplace. It is a credit to our Retail Banking Group.”
The Asian Banker Excellence in Retail Financial Services Programme is the most well-developed, research-based programme in Asia.
Awards are judged on extremely strict criteria, with a team of senior researchers working non-stop to collate data and interview the banks involved. Having identified five potential winners per category, these are then presented to an international panel of judges.
“Each judge is a highly respected expert in the financial services industry,” said Arup Mukhopadhyay, Group Head Retail Banking at ADCB. “The fact that they have chosen us for both the best domestic award possible and a key international award for TouchPoints is truly an honour.”
Emmanuel Daniel, President and Editor-in-Chief of The Asian Banker, added: “Our judges recognise that to build a long-term and sustainable franchise, you have to base it on strong business processes that lead to a consistent and profitable performance. Our award winners are doing just this.”
In 2007, ADCB saw a 40 percent growth in core business, a 31 percent growth in assets, a 30 percent growth in customer deposits and a ratio of bad loans of just 1.3 percent - the lowest in the UAE.