The British Global Business Outlook magazine announced that Abu Dhabi Commercial Bank – Egypt (ADCB-Egypt) was awarded the Fastest Growing Digital Bank award for the year 2021. Also, the Digital Banker Foundation awarded the bank four other awards, namely, Best Digital Transformation Program, Excellence in Technology Transformation, Best Financial Inclusion Initiative, and Best Graduate Employment Program.
Ihab ElSewerky, CEO and Managing Director of ADCB-Egypt, was honoured during the Digital Banker Middle East and Africa Awards for Innovation in Retail Banking and was awarded the CEO of the Year 2021.
The bank said in a statement that this honour came as a culmination of the bank’s efforts and a continuation of its success story since launching its brand in the Egyptian market last year.
“First of all, I would like to thank the Abu Dhabi Commercial Bank Egypt team, who played a prominent role in reaching this honourable achievement, and the Bank Group in the UAE, which showed firm confidence in our ability to achieve a lot. A year and a half ago, we began implementing an ambitious strategy to put ADCB-Egypt at the top of the list of distinguished banks in the Egyptian market, and to reflect the progress and distinction of the group in Abu Dhabi, with its expertise,” ElSewerky said.
He added: “Although the bank is still in the launching phase, the distinguished work team was able to overcome many challenges and make progress in a short time. I am sure that this is just the beginning. The bank’s strategy depends on an integrated plan that works on several pillars to achieve a qualitative leap and a real impact for customers, employees, shareholders, and society.”
He pointed out that these awards are a strong start and a catalyst for the bank to continue to progress, especially in light of a suitable economic climate and a strong banking system that achieves the growth of banks, in parallel with supporting the economy and protecting customers.
He explained that the bank recorded an 83% increase in net profits at the end of the first half of 2021 compared to the same period last year, and the customer base grew by 10%.
Meanwhile, ADCB-Egypt lending and deposit portfolios increased by 20% in the same period. The bank has led a digital transformation boom, as the number of digital services users has increased by 320% since September 2020.
Transfers and payments through digital channels have increased by about 50%, and many distinguished products and services have been launched for the bank’s customers, and a new vision for community service and financial inclusion has been launched.
