The appointments come as ADCB continues its integration with Union National Bank and Al Hilal Bank, to deliver scale and efficiencies/Bloombergby Kudakwashe Muzoriwa
The board of Abu Dhabi Commercial Bank (ADCB) has appointed HE Khaldoon Al Mubarak as the new Chairman and HE Hussain J Al Nowais as the new Vice-Chairman.
The appointment of the chairman and the vice-chairman follows the approval by the shareholders to appoint HE Al Mubarak, Ahmed Saeed Al Calily and Mohamed Ali Al Dhaheri, to the bank’s Board.
ADCB stated that the decision by the shareholders follows the stepping down of HE Eissa Al Suwaidi, HE Mohamed Dhaen Al Hamli and Mohamed Hamad Al Mehairi, as board directors.
The appointments come as ADCB continues its integration with Union National Bank and Al Hilal Bank, to deliver scale and efficiencies.
“I’m honoured to serve as Chairman of the new Board as ADCB enters its next phase of development. Our priority as a board will be to support and guide the business as we advance the strategy for sustainable growth,” said HE Khaldoon Al Mubarak.
ADCB is now the UAE's third-largest financial institution and one of the country’s largest retail lenders, with over one million customers, net loans of AED 250 billion and customer deposits at AED 262 billion as of 31 December 2019.
ADCB stated that the bank’s current institutional priorities include Emiratisation and talent development, along with digitisation, technology and operational development to better serve the existing customer base and establish new growth platforms.