Signed in April, the deal, was part of Barclay’s strategy to focus on key growth areas without affecting its existing customer base.
Barclays Middle East and North Africa CEO John Vitalo previously said: "The decision to exit the UAE retail banking space, while not taken lightly, allows us to focus on our businesses in corporate and investment banking and wealth and investment management.
Following the completion of acquisition, ADIB will move more than 110,000 customers of Barclays its banking platform.
Barclays’ 145 employees will continue to work from their existing branches in Dubai and Abu Dhabi.
Post transition, ADIB will have 85 branches, 660 ATMs, internet and mobile banking platforms, two call centres and over 700,000 customers.
Earlier this week, Barclays announced the sale of its Spanish retail assets to CaixaBank for €800m.
Image: The Barclays Bank branch in Sutton, London. Photo: courtesy of A P Monblat.
