Abu Dhabi, 12 December 2022: Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has been named 'Bank of the year- UAE 2022' by Financial Times' monthly publication, The Banker, in recognition of its robust financial performance and pioneering approach to innovation in digital banking. The global award highlights leaders in the banking sector who have kept pace with the ever evolving sophistication and demands of Islamic banking customers around the world.
This recognition comes as ADIB continues to build on its rich track record of innovation and Sharia-compliant products, including introducing the world's first digital Islamic bank for youth and being the first bank in the UAE to enable account opening through facial recognition.
Mr. Nasser Al Awadhi, ADIB Group CEO, said: “We are honoured to be named 'Bank of the year- UAE 2022' award by The Banker. This award is a significant milestone in our pursuit of excellence and long-term commitment to creating value for our stakeholders. This achievement underlines our success in delivering personalised Sharia-compliant banking products and addressing the needs of our customers regionally and globally. At ADIB, we strive to maintain our leading position in innovation within the industry and are proud of our advancements towards that goal to date."
ADIB offers one of the market's most technologically advanced retail products with 70% of the bank's clients being digitally active in 2022, and 40% rate of online sales transactions. Building on ADIB's strong digital banking portfolio, ADIB Direct, a cutting-edge online service, provides payments and cash management solutions to corporate customers and addresses all working capital needs locally, regionally, and globally. The bank's renewed strategic vision has resulted in strong financial performance in 2022, with the Q3 net profit crossing the AED 1 billion mark for the first time. The bank's ground-breaking initiatives that tap into emerging technologies such as blockchain and artificial intelligence are set to drive strong returns in the years ahead.
As a leading Islamic bank, ADIB is constantly looking to explore opportunities that new technology offers by creating a next generation suite of banking services for its customers. With its continuous effort to develop pioneering digital services, the bank is advancing its sustainability agenda, with innovations aimed at promoting financial inclusion and achieving key objectives of its 5-year growth strategy