ADCB acquires Abu Dhabi Finance mortgage portfolio

  DUBAI – Abu Dhabi Commercial Bank (ADCB) has signed a deal to acquire the mortgage portfolio of Abu Dhabi Finance. The agreement is expected to expand ADCB’s home finance business, it said in a statement to Abu Dhabi Securities Exchange on Sunday (February 28). The portfolio has 1,000 assets value at Dh1.13 billion as of January 31. Of that number, 76 percent are residential mortgages in Abu Dhabi, Dubai and other emirates. "The bank continues to invest significantly to provide a leading real estate finance offering, " said Arup Mukhopadhyay, head of the consumer banking group at ADCB. ICA/Expat Media
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