ADIB receives "Best Islamic Retail Bank" Award from The Digital Banker

Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has been awarded the title of "Best Islamic Retail Bank" by The Digital Banker, a global recognition that underscores its global standing in the banking industry. The announcement was made recently during the Global Retail Banking Innovation Awards ceremony which took place in Singapore. 
The Digital Banker awards are highly reputed in the financial world, and this recognition stands as a testament to ADIB's commitment to financial excellence, innovative offerings, and significant growth in the Islamic banking sector. The nominee evaluation process for the award follows a numerical and quantitative methodology with specific weighting given to digital innovation, digital ecosystems, customer experience, financial performance and leadership strategy.
Abu Dhabi Islamic Bank recently reported a growth in Net Profit of 53%, which amounted to 3.75 billion UAE dirhams during the first nine months of 2023. The bank’s revenues in the first nine months of 2023 recorded a growth of 48% to reach 6.7 billion UAE dirhams, reflecting a consistent trend of strong growth. The Retail Banking Group is considered the main catalyst for the growth of the bank’s business, as the group achieved outstanding performance, with net profits rising to AED 2.0 billion during the first nine months of 2023, an increase of 77% compared to the same period last year. Retail Banking also continued strengthening their customer propositions and improving channel productivity, resulting in improved sales momentum for cards and 11% growth in gross financing. The strategic focus on delivering excellent customer experience enabled Retail Banking to expand its customer base by approximately 157,000 customers in the first nine months of 2023. On the digital level, the bank continued to provide the best leading digital capabilities in the sector, and was keen to redesign the customer experience, enabling them to conduct banking transactions at any time and place through their favorite digital channels.
Amit Malhotra, Global Head of Retail Banking at ADIB, said: "It is an honour to be recognized as the 'Best Islamic Retail Bank' by The Digital Banker. This award underscores the dedication and hard work of our team and showcases our strong performance over the past year. Winning this award, along with other recent ones, indicates that ADIB is not only competing on a global level but excelling in it. These achievements motivate us to continue delivering top-notch banking services and fostering innovation in the industry."
Recently, ADIB achieved prestigious recognitions at the Global Finance Awards including the Best Bank in the UAE 2023 and secured multiple accolades at the Bonds & Sukuk Middle East Awards 2023. Additionally, it was named 'Islamic Bank of the Year 2022' by The Banker Magazine. These accolades reaffirm ADIB's position as a global leader in Islamic finance. In recent years, the bank has made significant strides in digital transformation, introducing cutting-edge online and mobile banking services to cater to the evolving needs of its customers.