Sector: Banks & Financial Services
Date of Establishment: 2020
Market Value: $11.9 billion
The ADCB Group was formed in 2020 by the merger of the Abu Dhabi Commercial Bank and the Union National Bank, and the acquisition of the Al Hilal Bank. It is the third biggest bank in the U.A.E. with more than a million customers. It follows a U.A.E.-centric growth strategy and has not expanded aggressively overseas. Ala’a Eraiqat has been CEO of the bank since 2009. He is also chairman of its subsidiaries, Al Hilal Bank and Abu Dhabi Commercial Properties. Mubadala is the bank’s largest shareholder, and its CEO, Khaldoon Al Mubarak, is also chairman of ADCB Group.