Abu Dhabi Islamic Bank’s SME financing totalled $272.2mln in 2022

Abu Dhabi Islamic Bank’s SME financing totalled $272.2mln in 2022

Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has announced the release of its second Environmental, Social, and Governance (ESG) report emphasising the progress made on the bank’s EGS goals and commitments for the year 2022.

The report also highlights a new three-year ESG strategy to integrate ESG risks considerations into the banking framework and support the UAE’s efforts to achieve the transition towards a more sustainable economy.

The 2022 ESG report provides a comprehensive evaluation of the progress ADIB made in various environmental, social, and governance related metrics, highlighting significant improvements made over the past year.

Abu Dhabi Islamic Bank invested AED23 million in community development initiatives, and provided AED1 billion in SME financing in 2022. Around 60 percent of the bank's funding portfolio was low or medium risk according to ESG standards, maintaining a stable and secure financial position.

Additionally, the bank maintained one of the highest Emiratisation ratios, reaching 45 percent. This was coupled with steady progress in strengthening women’s representation in executive roles, where women now represent 39.4 percent of ADIB’s entire workforce.

To further assist UAE nationals and provide young people with greater access to essential financial services, ADIB continued to focus on the younger generation through its