Home Banking & Finance ADCB launches sustainable call account for corporate customers

ADCB launches sustainable call account for corporate customers

ADCB is expanding its offering to support customers pursue their sustainability agenda as the UAE prepares to host the COP28.

ADCB obtains banking licence from Saudi Central Bank
ADCB intends to fulfil all regulatory requirements stipulated by SAMA before commencing operations. Image credit: WAM

Abu Dhabi Commercial Bank (ADCB) has launched a sustainable call account to provide a new avenue for corporate banking customers in the UAE to manage funds while contributing to their social and environmental goals.

The launch of sustainable products and services is central to ADCB’s advanced ESG strategy, which is aligned with the UAE’s ambitions to create an inclusive, net-zero economy.

Funds deposited by corporates and institutions in an ADCB sustainable call account will be directly allocated to sustainable and green bonds within the bank’s treasury investment book.

The ADCB sustainable call account provides ADCB clients with a convenient channel to increase exposure to sustainable assets, with account holders having access to an annual report that will be published on the impact of deposited funds, consolidated at a portfolio level.

ADCB is expanding its offering to support customers in pursuing their sustainability agenda as the country prepares to host the COP28 climate conference in November.

The bank provides corporate clients with renewable energy project finance, sustainability-linked loans and advisory services on green bond issuance, with further products and solutions in the pipeline.

For retail banking customers, ADCB is providing preferential mortgages for the purchase of more sustainable, energy-efficient homes, as well as auto loans to incentivise greater uptake of electric and hybrid vehicles.

ADCB issued two green bonds to channel global capital into renewable and clean energy projects in the UAE. Since 2021, it has achieved 25% growth in its sustainable finance portfolio and a 61% year-on-year increase in its green loan portfolio, which now stands at over $1.65 billion.