ADCB Statement on Initiation of Criminal Proceedings in Relation to NMC Health Group

Press release

Published April 15th, 2020 - 10:31 GMT

ADCB Statement on Initiation of Criminal Proceedings in Relation to Nmc Health Group

Abu Dhabi Commercial Bank

Highlights

ADCB confirms that it has initiated criminal legal proceeding with the Attorney General in Abu Dhabi against a number of individuals in relation to NMC Health Group.

ADCB confirms that it has initiated criminal legal proceeding with the Attorney General in Abu Dhabi against a number of individuals in relation to NMC Health Group. This action is consistent with the bank’s objective to protect its interests. ADCB continues to work closely with other creditors and the joint administrators to ensure continuity of NMC Health’s operations and a rapid recovery of the business.

Background Information

Abu Dhabi Commercial Bank

ADCB was formed in 1985 and today after integration employs over 3,350 people from over 45 nationalities, serving approximately 590,000 retail customers and over 20,000 wholesale clients. It is the third largest bank in the UAE and second largest in Abu Dhabi by assets, at AED 163.7 billion as at March 31st, 2010.

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, currency, derivative, Islamic products, project finance and property management services.

ADCB is owned 64.8% by the Abu Dhabi Government through the Abu Dhabi Investment Council. Its shares are traded on the Abu Dhabi Securities Market.

ADCB has won the Silver class category of The Sheikh Khalifa Excellence Award (SKEA) for the finance sector in November, 2009. In February 2010, ADCB won The World Finance Corporate Governance Award for “Best Corporate Governance in the UAE” and was recently named “Best Retail Bank in the UAE and GCC 2010” by The Asian Banker magazine in March 2010.