Sunday, August 22, 2021 – 7:50 PM
ABU DHABI, 22nd August, 2020 (WAM) — Abu Dhabi Commercial Bank (ADCB) has announced that it has upgraded its rating on the MSCI ESG Index of Environmental, Social and Corporate Governance (MSCI ESG) from A to AA.
This was driven by “pioneering digital transformation initiatives” to support small businesses, as well as its adoption of the best standards of information security and customer data protection.
Thus, Abu Dhabi Commercial Bank’s ranking on the Morgan Stanley Capital International Index rises to the category of “Leadership” and is now among 29% of the companies listed in the MSCI ACWI Index, the best in the field of environmental, social and corporate governance risk management globally.
ADCB recorded industry-leading results in providing consumer financial protection, robust data security standards, and compliance.
In the field of developing human cadres, the Bank achieved advanced ranks compared to banks and financial institutions in the field of talent development and training programs for new graduates, and this came in appreciation of what the Bank offers in the context of developing the skills of employees, especially UAE nationals.
The bank’s strong performance in the field of “social governance” played a major role in upgrading its rating. In this regard, the indicator sheds light on the digital banking services that the bank recently introduced during the outbreak of the global pandemic, which had a significant impact in providing support to individuals, startups and small companies in these times. the exceptional.
And the results of the evaluation of Abu Dhabi Commercial Bank in terms of corporate governance have increased since April 2021, after it achieved a rating above the global average for business ethics.
The Morgan Stanley Capital International Index positively noted the bank’s efforts to reduce environmental risks in its lending activities.
Alaa Erekat, Group CEO of ADCB, said: “We are proud to announce that ADCB has been upgraded to the Morgan Stanley Capital International Index, which places it among the world’s leading institutions in the field of environmental, social and corporate governance, which confirms our commitment to effective risk management and corporate governance efforts. Environmental, Social and Corporate Governance, contribute to advancing social and economic development in the United Arab Emirates and ensure long-term business sustainability. We are confident that this achievement will allow us to continue to provide high quality services to our customers and support the community as a whole.
He added, “We will continue to build on what has been achieved. The Bank has already started developing a comprehensive ESG plan, which will be integrated into our next five-year business strategy.”
WAM/ Ahmed Al Nuaimi/ Assem Al Khouli