"The addition of
ADIC has diversified our exposure and strengthened our portfolio.
"Social workers have a lot of work in fixing the social injustice and helping those who cannot keep up with the social tempo that is imposed to us," added A
adic.
"
ADIC currently owns 62.5 per cent of ADCB, 50 per cent of UNB and 100 per cent of Al Hilal Bank.
"
ADIC becoming part of the Mubadala Group is yet another step in Abu Dhabi's efforts to accelerate the diversification of the UAE's economy.
ADIC is a unit of sovereign wealth fund Abu Dhabi Investment Council.
In 2012, Al Hilal's capital cushion was boosted by retained earnings and an AED500m capital contribution from
ADIC. An undrawn capital commitment from
ADIC of AED910m is also available to fund business growth, as and when needed.
Whereas,
ADIC, which is owned by the government of Abu Dhabi has acquired 30 percent while the rest i.e.
The two
Adic towers occupy two neighboring sites located within close proximity to Al Qurum beach in the eastern district of Abu Dhabi, along the Eastern Ring Road.
ADIC, Korea Development Bank and the Korea Trade Promotion Agency (Kotra) signed an agreement to help increase investment flows between South Korea and the Middle East and North Africa region,
ADIC said.
A trade delegation from the United Arab Emirates, headed by
ADIC vice-chairman Nasser Ahmed Al Suwaidi, signed the agreement in Seoul with state-owned Korea Development Bank (KDB) and the Korea Trade Promotion Agency, or KOTRA,
ADIC said.
It is an honour for
ADIC to be working closely with them," said
ADIC chief executive officer Nazem Al Kudsi.
This appointment ads further impetus to
ADIC's strategy of building world-class expertise, as a crucial element of the company's growth plans.
