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MarketScreener Homepage  >  Equities  >  ABU DHABI SECURITIES MARKET  >  Abu Dhabi Commercial Bank PJSC    ADCB   AEA000201011

ABU DHABI COMMERCIAL BANK PJSC

(ADCB)
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End-of-day quote. End-of-day quote ABU DHABI SECURITIES MARKET - 02/19
7.64 AED   --.--%
01/28UAE's biggest lender FAB posts fourth quarter net profit rise
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01/21Gulf economies to pick up this year following spending spree
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Abu Dhabi Commercial Bank PJSC : Abu Dhabi Commercial Bank Achieves ISO 9001:2008 Certification More

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02/18/2013 | 08:51am EST

20 January 2013

Abu Dhabi Commercial Bank Achieves ISO 9001:2008 Certification

Abu Dhabi, 20 January 2013: Abu Dhabi Commercial Bank "ADCB" announced today that the Bank's Group Business Services division has achieved ISO 9001:2008 certification as recognition of the quality management system standard of the bank.

ISO 9001 certification benchmarks the quality management system standard of institutions based on the highest international standards and focuses on customer satisfaction. ADCB had one of the widest certification scopes for a bank in the region, given the large number of departments, functions and branches included in the evaluation.

Jerry Möllenkramer, Group Chief Operating Officer, ADCB said; "ADCB is committed to the constant improvement of service quality, which ensures we provide the very best level of service for our customers. I am delighted to see that our efforts and hard work are officially recognised by the internationally recognised ISO 9001 Certification."

ADCB's Group Business Services division (GBS) provides a range of supporting services to ADCB and its subsidiary companies and to ADCB's customers. GBS is comprised of Technology Services, Group Operations, Group Strategy & Change, Information and Physical Security, Transformation & Control and Corporate Services teams. The wide certification scope covers all ADCB operations impacting customer segments and transactions, information technology and security, facilities management, strategy and branch operations across the entire network of 49 branches in the UAE.

GBS was certified by Lloyd's Register Quality Assurance (LRQA), which is a UKAS accredited company and one of the most prominent ISO certification bodies in the region. Lloyd's Register Quality Assurance (LRQA), part of Lloyd's Register Group, is one of the world leaders in assessing business processes and products to internationally recognised standards. The assessment undertaken by LRQA was not just limited to GBS's processes and effectiveness, but also looked into Health & Safety aspects, as well as Environmental and Risk.

Basem Obaid, Chief Executive Officer, LRQA commented: "The team at ADCB demonstrated a continued commitment which brings to light the depth and maturity of its management team. The certification process included an extensive review and on site audit of business processes and departments against global best practices in quality based on the ISO 9001:2008 requirements".

Jerry Möllenkramer concluded: "This is an exceptional achievement which is a result of the combined efforts put forward by our 750 person strong team. Of course certification is just the start of a continuous quality management culture; our commitment to improvement and customer satisfaction will continue."

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Financials (AED)
Sales 2020 13 193 M
EBIT 2020 8 104 M
Net income 2020 5 605 M
Debt 2020 -
Yield 2020 5,08%
P/E ratio 2020 10,2x
P/E ratio 2021 8,49x
Capi. / Sales2020 4,03x
Capi. / Sales2021 3,65x
Capitalization 53 106 M
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Mean consensus BUY
Number of Analysts 10
Average target price 9,58  AED
Last Close Price 7,64  AED
Spread / Highest target 50,5%
Spread / Average Target 25,4%
Spread / Lowest Target 11,9%
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Managers
NameTitle
Ala'a Mohamed Atta Khalil Eraiqat Group Chief Executive Officer & Executive Director
Eissa Mohamed Al-Suwaidi Chairman
Siddiqa Abbas Chief Operating Officer
Deepak Khullar Group Chief Financial Officer
Mohamed Sultan Ghannoum Al-Hameli Vice Chairman
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