Abu Dhabi Commercial Bank (ADCB) has announced plans to withdraw from India in order to focus on the domestic market.

In a statement to the Abu Dhabi Securities Exchange, the UAE-based lender said that it will divest majority of its banking portfolio in India to DCB Bank.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Upon deal completion, which is pending regulatory approvals, ADCB will pull-out from the South Asian nation. ADCB noted that the deal will not affect its profitability.

The portfolio to be sold includes AED355m ($96.6m) in assets and AED601m in liabilities. The sale will be made at par, the regulatory filing said.

“ADCB’s priority remains to provide excellent service to the customers throughout the transition period and to ensure a smooth migration to the DCB Bank,” the statement added.

The move follows the combination of ADCB with two other domestic peers Union National Bank and Al Hilal Bank. In May, the three lenders formally completed their merger to create the third-largest lender in the UAE with around $115bn in assets.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

On the other hand, DCB Bank is a private sector commercial lender in India. It boasts 333 branches across 19 states and three union territories in the country.

Earlier this year, DCB Bank launched its open banking platform. The participants in the effort will be able to access its open banking platform APIs and share expertise on developing new products.