ADCB record AED 5.2 billion in net profit for 2019

WAM

Abu Dhabi Commercial Bank (ADCB) has recorded a net profit of AED 5.244 billion for the year 2019.

Its financial results show that it has delivered a return on average tangible equity of 11.2 per cent.

ADCB Chairman Eissa Mohamed Al Suwaidi said the year was a "transformational year" for the group.

"The merger with Union National Bank and subsequent acquisition of Al Hilal Bank provided the enlarged group with the scale and efficiency required for a major UAE financial institution," he explained. 

"The Bank, which now serves over one million customers, benefits from resilience and scale necessary to navigate continued challenges and the financial strength to take advantage of new growth opportunities."

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