Abu Dhabi Commercial Bank
Year to date
-0.04 %
3 months
0.00 %
6 months
0.00 %
1 year
0.00 %
3 years
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5 years
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Latest Pressrelease Summaries
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Abu Dhabi Commercial Bank (ADCB) has successfully priced an Additional Tier 1 (AT1) Bond of USD 750 million to strengthen its capital base and support further growth. The bank has experienced a net loan growth of 10% in the first nine months of 2023 and expects a 10-12% credit expansion for the year. The AT1 Bond received orders of over USD 4 billion from global investors and was priced at 8.0%. ADCB maintains credit ratings of A/Stable/A-1 from S&P and A+/Stable/F1 from Fitch. The bond will be listed on Euronext Dublin.
Abu Dhabi Commercial Bank (ADCB) has received a binding offer from Nine Yards Plus Holding, a subsidiary of EIH Ethmar International Holding, for a majority stake in its subsidiary, Abu Dhabi Commercial Properties (ADCP). The deal, which is expected to be completed in Q4 2023, will see ADCB retain a 20% stake in ADCP and is anticipated to yield a gain of approximately AED400mn for ADCB. The transaction aligns with ADCB's growth and diversification strategy. ADCP will retain its separate legal status and brand, and will continue to benefit from ADCB's financial expertise and relationships in the property management sector, while leveraging Nine Yards Plus Holding's real estate expertise.
The text refers to a review report and condensed consolidated interim financial information for Abu Dhabi Commercial Bank PJSC. The information covers a nine-month period, ending in September 2023.
The text refers to an earnings press release and management discussion & analysis report by Abu Dhabi Commercial Bank PJSC for the third quarter of 2023. The details can be found on their website. The date of the release is 25th October 2023.