Covid-19 Impact on Banks, And fixes. The Black Swan Opportunity

Download Now

The Black Swan Opportunity | Get your bank digital ready.

IBSI Special 5 Digital Report Package with Special Offer. Subscribe now

IBS Journal: The iconic monthly FinTech magazine

May 2020 issue out now! Subscribe now

India FinTech Report 2020

Insights into the historical and projected market size of key FinTech categories. Subscribe now

ADCB completes three-bank integration with UNB and Al Hilal Bank

ADCBAbu Dhabi Commercial Bank Group (ADCB Group) announced it has achieved full integration of Union National Bank (UNB) and Al Hilal Bank, completing a complex threeway merger process that is said to have created a unified, powerful and resilient banking group. The ADCB brand was rolled out across all physical and digital platforms and customers benefitted from an optimised network of 72 branches and over 450 ATMs across the UAE.

Ala’a Eraiqat, ADCB’s Group Chief Executive Officer and Board Member said, “The integration of three banks into a fully unified organisation in only 11 months is a tremendous achievement. The combination of ADCB, UNB and Al Hilal Bank into a larger and stronger banking group was driven by an ambition to continuously evolve to deliver excellent service to our customers and to create value for all our stakeholders…”

“Best practice governance, close collaboration and a methodical approach allowed ADCB to enhance productivity and accelerate the integration process. This led to a seamless transition and the capture of greater efficiencies, which will have a sustained positive impact on financial performance. In the fourth quarter of last year, the Bank increased its run-rate synergy target by 37% to AED 840 million, of which AED 350 million had already been realised in 2019. Furthermore, a major survey this year shows that ADCB recorded the highest increase in brand value of any company in the UAE over the last 12 months…”

Al Hilal Bank launched a new digital strategy, which focuses on offering retail customers Shari’ah -compliant products and services through digital channels. This followed the 100 per cent migration of Wholesale and SME customers to ADCB’s Islamic wholesale banking platform in the second and third quarters of 2019.

Mohammed Al Jayyash, Acting Group Chief Operations Officer stated, “Over the last year we have been engaged in detailed planning and testing to ensure the smooth execution of consecutive phases of integration, with minimal disruption to our customers. This was an enormously demanding task, involving more than 100 systems and hundreds of processes. The need for our teams to work remotely across several locations in recent weeks required even greater coordination and focus.

Following this seamless transition, over one million customers now enjoy all the benefits of banking with ADCB, including convenient and highly efficient internet and mobile banking as well as a wide range of enhanced products and services…”

In the final milestone completed last week, banking systems were unified, with former UNB customers transferring to ADCB systems, applications and digital banking platforms.

Related IBS Intelligence Research​

Related Posts