Abu Dhabi – Mubasher: Abu Dhabi Commercial Bank (ADCB) has closed its representative offices in London and Singapore, in line with its business strategy to focus on the local market.
The bank announced that this decision will not have an impact on the bank's profitability, according to the bank's disclosure to the Abu Dhabi Securities Exchange (ADX) on Wednesday.
It is noteworthy to mention that on Tuesday, 3 November, ADCB agreed to sell its 49% stake in UAE's Orient UNB Takaful and 20% stake in Egypt's Orient Takaful to Orient Insurance Company, part of the Al Futtaim Group to focus on its main business areas.
