Recent Research

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  FIRST LOOK NOTES

  28 Oct 2026

  Abu Dhabi Commercial Bank (ADC...

  BUY

  Last Closing Price

  16.90

  Target Price

  20.00

  Upside (%)

  +18.34%

  UAE Equity Research - Abu Dhabi Commercial Bank (ADCB) 3Q26 - First Look Note

  ADCB's net advances grew 16.9% YOY and 5.5% QOQ to AED 469.0 Bn in 3Q26, driven by broad-based lending growth across key segments. Customer deposits grew 15.7% YOY and 6.0% QOQ to AED 558.2 Bn in 3Q26, while the CASA ratio stood at 45.0% in 3Q26, compared to 45.7% in 2Q26.

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• 

  EARNINGS CALL INSIGHT

  27 Oct 2026

  Abu Dhabi Commercial Bank (ADC...

  BUY

  Last Closing Price

  16.90

  Target Price

  20.00

  Upside (%)

  +18.34%

  UAE Equity Research - Abu Dhabi Commercial Bank (ADCB) 3Q26 - Earnings Call Insight

  ADCB's net profit attributable to equity shareholders increased 15.2% YOY to AED 3.6 Bn in 3Q26, exceeding our estimate of AED 3.4 Bn. The growth was primarily driven by higher net funded and non-funded income coupled with lower impairment charges, partially offset by increased operating expenses and tax charges.

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• 

  FIRST LOOK NOTES

  24 Jul 2026

  Abu Dhabi Commercial Bank (ADC...

  BUY

  Last Closing Price

  14.42

  Target Price

  18.00

  Upside (%)

  +24.83%

  UAE Equity Research - Abu Dhabi Commercial Bank (ADCB) 2Q26 - First Look Note

  Abu Dhabi Commercial Bank’s (“ADCB”, “The Bank”) net profit rose 31.5% YOY to AED 3,376 Mn in 2Q26, in line with our estimate of AED 3,346 Mn. The strong growth in net profit is primarily driven by higher net funded and non-funded income growth along with lower impairments and tax charges, partially offset by higher operating expenses.

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• 

  EARNINGS CALL INSIGHT

  24 Jul 2026

  Abu Dhabi Commercial Bank (ADC...

  BUY

  Last Closing Price

  14.40

  Target Price

  18.00

  Upside (%)

  +25.00%

  UAE Equity Research - Abu Dhabi Commercial Bank (ADCB) 2Q26 - Earnings Call Insight

  ADCB's Net profit attributable to equity shareholders increased 31.5% YOY to AED 3.4 Bn in 2Q26, in in line with our estimate of AED 3.3 Bn. The increase in net profit was mainly driven by higher net funded and non-funded income along with significantly lower impairments, partially offset by higher operating expenses.

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• 

  FIRST LOOK NOTES

  27 Apr 2026

  Abu Dhabi Commercial Bank (ADC...

  BUY

  Last Closing Price

  13.30

  Target Price

  18.00

  Upside (%)

  +35.34%

  UAE Equity Research - Abu Dhabi Commercial Bank (ADCB) 1Q26 - First Look Note

  ADCB’s Net loans increased 18.4% YOY to AED 425.7 Bn, driven by solid credit demand across the UAE and key international corridors. The bank also strengthened its capital markets franchise, notably acting as joint lead manager on the Republic of Turkiye’s USD 3.5 Bn dual-tranche bond issuance, highlighting its growing capabilities in international debt markets.

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• 

  EARNINGS CALL INSIGHT

  24 Apr 2026

  Abu Dhabi Commercial Bank (ADC...

  BUY

  Last Closing Price

  12.80

  Target Price

  18.00

  Upside (%)

  +40.63%

  UAE Equity Research - Abu Dhabi Commercial Bank (ADCB) 1Q26 - Earnings Call Insight

  ADCB’s Net profit attributable to equity shareholders increased 37.4% YOY to AED 3.4 Bn higher than our estimate of AED 2.9 Bn in 1Q26. The increase in net profit was mainly driven by higher net funded and non-funded income along with lower impairments and lower tax expense, partially offset by increase in operating expenses and lower share of profit from associates.

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