Business & Money | Sunday 5 April, 2015 11:31 am |

Abu Dhabi Commercial Bank (ADCB) has won the “Best Corporate Governance Award” for 2015 by leading magazine, World Finance, an award established to recognise banks that have shown exemplary performance in Corporate Governance practices.

The award reflects ADCB’s ongoing commitment to corporate governance and is a reflection of its commitment to its local and international responsibilities within the communities in which it operates.

Simon Copleston, Group General Counsel & Board Secretary at ADCB said: “ADCB is proud to be the recipient of World Finance’s Best Corporate Governance in the UAE, 2015 Award. We aspire to conduct our business according to the highest standards of corporate governance and are always looking to ensure we are at the forefront of the latest developments in this area. Our guiding principles of responsibility, accountability, transparency and fairness inform our approach to good corporate governance.”

The award judges commended ADCB for its leading position in the development of a robust corporate governance framework as well as, amongst other things, its effective and engaged Board of Directors, its promotion of accountability to stakeholders, and its commitment to integrity and innovation.

The World Finance Corporate Governance Awards highlight companies that serve as a benchmark for all companies aspiring to achieve outstanding corporate governance. Nominees and winners are judged on a wide range of criteria, including the system of governance, internal and external audits, stakeholder relations, composition and independence of the board of directors, observance of shareholder rights, risk management, and transparency.

-ENDS-

About ADCB

ADCB was formed in 1985 and as at 31 December 2014 employed over 4,000 people from 65 nationalities, serving over 580,000 retail customers and approximately 49,000 corporate and SME clients in 50 branches, 4 pay offices and 2 branches in India, 1 branch in Jersey and a representative office in London. As at 31 December 2014, ADCB’s total assets were AED 204 bn.

ADCB is a full-service commercial bank which offers a wide range of products and services such as retail banking, wealth management, private banking, corporate banking, commercial banking, cash management, investment banking, corporate finance, foreign exchange, interest rate and currency derivatives and Islamic products, project finance and property management services.

ADCB is owned 59.3% by the Government of Abu Dhabi (Abu Dhabi Investment Council - 58.08% and an Abu Dhabi Government Entity – 1.19%). Its shares are traded on the Abu Dhabi Securities Exchange. As at 31 December 2014, excluding treasury shares, ADCB’s market capitalisation was AED 37 bn.