Last 7.35 AED
Change Today -0.09 / -1.21%
Volume 1.6M
ADCB On Other Exchanges
Symbol
Exchange
Abu Dhabi
As of 5:00 AM 11/27/14 All times are local (Market data is delayed by at least 15 minutes).

abu dhabi commercial bank (ADCB) Snapshot

Open
7.30
Previous Close
7.44
Day High
7.43
Day Low
7.26
52 Week High
05/29/14 - 9.38
52 Week Low
11/28/13 - 5.32
Market Cap
41.1B
Average Volume 10 Days
2.5M
EPS TTM
0.69
Shares Outstanding
5.6B
EX-Date
03/20/14
P/E TM
10.6x
Dividend
0.30
Dividend Yield
4.08%
Current Stock Chart for ABU DHABI COMMERCIAL BANK (ADCB)

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abu dhabi commercial bank (ADCB) Details

Abu Dhabi Commercial Bank P.J.S.C., together with its subsidiaries, provides retail, commercial, and Islamic banking products and services primarily in the United Arab Emirates. The company operates in four segments: Consumer Banking, Wholesale Banking, Investments and Treasury, and Property Management. The Consumer Banking segment includes retail, wealth management and Islamic financing operations. This segment is involved in the provision of loans and deposits; and other transactions and balances with retail customers, and corporate and private accounts of high net worth individuals, as well as funds management activities. The Wholesale Banking segment comprises business banking, cash management, trade finance, corporate finance, small and medium enterprise financing, investment banking, Islamic financing, and infrastructure and asset finance operations, as well as loans, deposits, and other transactions and balances with corporate customers. The Investments and Treasury segment comprises central treasury operations and investment portfolio management, as well as interest rate, currency, and commodity derivative portfolio operations. This segment undertakes funding and centralized risk management activities through borrowings; debt securities issuance; risk management through usage of derivatives’ investments in liquid assets, such as such as short-term placements, and corporate and government debt securities; and trading and corporate finance activities. The Property Management segment includes real estate management and engineering service operations. In addition, the company provides investment and protection products, systematic investment plans, brokerage services, asset management services, NRI services. It operates 50 branches and 3 pay offices in the United Arab Emirates, 2 branches in India, and 1 offshore branch in Jersey. Abu Dhabi Commercial Bank P.J.S.C. is headquartered in Abu Dhabi, United Arab Emirates.

abu dhabi commercial bank (ADCB) Top Compensated Officers

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Executives, Board Directors

abu dhabi commercial bank (ADCB) Key Developments

Abu Dhabi Commercial Bank Appoints Monica Malek as its New Chief Economist

Abu Dhabi Commercial Bank (ADCB) announced the appointment of Monica Malek as its new chief economist. In her role, Malek will work on building economic research to help inform the bank's decision-making. Malek brings over 15 years of experience as an economist in the Mena region. She joins from EFG-Hermes where she was the chief economist, and previously worked as senior economist with Standard Chartered Bank (Dubai) and Dun & Bradstreet (London).

ADCB Eyes Acquisitions

Abu Dhabi Commercial Bank P.J.S.C. (ADX:ADCB) said it is looking at possible acquisitions in southeast Asia.

Abu Dhabi Commercial Bank Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Reports Impairment for the Third Quarter Ended September 30, 2014

Abu Dhabi Commercial Bank announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. The company posted a net profit of AED 3.17 billion for the first nine months of 2014, up 16% compared to the same period last year. Operating income was up 2% to AED 5.645 billion. The results for the same period last year included a one-off gain of AER 100 million arising from retirement of hedges. Excluding the non-recurring gain, the bank reported an increase of 3% in operating income and 6% increase in non-interest income to AED 1.42 billion in the first nine months of this year. The bank's strong performance for the nine month period of 2014 reflects the emphasis place on sustainable growth and commitment to strategic pillars. Net fees and commission income was up 19% at AED 896 million. The bank reported significant improvement in cost of funds. Key drivers for growth included continued improvement in funding profile, with cost of funds at 0.90%, robust fee income growth, up 19% year on year at AED 896 million and improvement in asset quality, with total impairment charges at AED 608 million. Basic earnings per share was AED 0.55 against AED 0.43 per share a year ago. As at September 30, 2014, ROE was 18.2% and ROAA at 1.99% compared to 15.7% and 1.75% a year ago. Net income from Islamic financing was AED 381.467 million against AED 329.035 million a year ago. Profit before taxation was AED 3,182.21 million against AED 2,745.54 million a year ago. Net cash used in operating activities was AED 720.426 million against net cash from operating activities of AED 2,553.966 million a year ago. Additions to investment properties was AED 11.95 million against AED 17.14 million a year ago. Net purchase of property and equipment, net was AED 88.561 million against AED 1,235.17 million a year ago. For the third quarter of 2014, the company reported a net profit of AED 1 billion, up 11% compared to the third quarter of 2013. The company reported 16% year on year growth in its bottom-line during the third quarter of 2014 mainly due to a huge decline in provision expenses. Total net interest income was AED 1,400 million against AED 1,366 million a year ago. Operating income was AED 1,870 million against AED 1,821 million a year ago. Net fees and commission income was AED 1.399 million against AED 1.366 million a year ago. Net income from Islamic financing was AED 126.834 million against AED 121.98 million a year ago. Profit before taxation was AED 1,020.043 million against AED 921.699 million a year ago. For the quarter, the company reported net impairment allowances of AED 201 million against AED 308 million a year ago.

 

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Industry Analysis

ADCB

Industry Average

Valuation ADCB Industry Range
Price/Earnings 10.7x
Price/Sales 5.8x
Price/Book 1.5x
Price/Cash Flow 10.9x
TEV/Sales NM Not Meaningful
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