Abu Dhabi Islamic Bank PJSC (ADIB)

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News

31 October 2024 09:27 AM Abdelbary leads ADIB’s growth strategy as new CEO

Abu Dhabi – Mubasher: The board directors of Abu Dhabi Islamic Bank (ADIB) has appointed Mohamed Abdelbary as the Group CEO, effective immediately, according to a press release. Abdelbary has served as the acting CEO since March 2024successfully …

Global Economy

31 October 2024 09:00 AM ADIB achieves AED 4.6bn net profits in 9M-24

Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) logged net profits amounting to AED 4.63 billion in the first nine months (9M) of 2024, an annual jump of 24% from AED 3.75 billion. The total operating income reached AED 7.99 billion as of 30 …

Banking and Finance

14 October 2024 11:26 AM ADIB drives fintech innovation in GCC via new venture

Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) launched ADIB Ventures, a new strategic initiative created to boost innovation and collaboration within the global fintech landscape. The programme aims to reinforce ADIB’s position as a leader …

Banking and Finance

1 October 2024 00:40 PM Emirates Development Bank, ADIB to reinforce UAE’s SMEs sector

Abu Dhabi – Mubasher: Emirates Development Bank (EDB) and Abu Dhabi Islamic Bank (ADIB) signed a strategic partnership to back SMEs in the UAE through a joint finance guarantee scheme. The partnership aims to improve financial inclusion for SMEs, …

Banking and Finance

30 July 2024 03:45 PM ADIB Securities launches ADIBS Global in US market

Abu Dhabi – Mubasher: ADIB Securities, a wholly owned subsidiary of Abu Dhabi Islamic Bank (ADIB), allowed trading in the US market as the first UAE Sharia-compliant broker. The newly updated trading platform, ADIBS Global, provides investors with …

Global Economy

24 July 2024 04:11 PM ADIB logs 30% higher consolidated profit in H1-24

Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank’s (ADIB) posted a 30% year-on-year (YoY) surge in consolidated net profit after tax and zakat of AED 3.02 billion during the first half (H1) of 2024 from AED 2.32 billion. Total operating income soared …

Financial Results

3 July 2024 10:57 AM ADIB provides AED 5.5bn sustainable finance in 2023

Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank’s (ADIB) sustainable finance reached AED 5.56 billion in 2023, including the issuance of the world's largest green sukuk by a bank, raising $500 million. ADIB has set net-zero targets for Scope 1 and …

Banking and Finance

30 June 2024 00:24 PM ADIB, Silent Eight forge partnership to automate financial crime screening

Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) joined forces with tech company Silent Eight to automate financial crime compliance screening, according to a press release. Silent Eight leverages AI tools to create custom compliance models for …

Banking and Finance

23 June 2024 04:13 PM ADIB unveils strategic partnership with DIFC Innovation Hub for fintech growth in region

Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) has entered into a strategic collaboration with DIFC Innovation Hub to fast-track fintech adoption in the region. The UAE’s DIFC Innovation Hub is home to more than 700 growth-stage tech firms …

Banking and Finance

14 May 2024 00:17 PM ADIB launches expansion plan to improve business banking for SMEs

Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) has announced an expansion plan aiming at improving business banking services across the UAE. The plan includes strategic collaborations with key partners specialising in serving the small-, and …

Banking and Finance

24 April 2024 06:56 PM ADIB records 32% annual surge in Q1-24 net profit; revenue hits AED 2.5bn

Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) achieved a net profit after tax worth AED 1.45 billion during the first quarter (Q1) of 2024, signalling a 32% increase from AED 1.10 billion in Q1-23. The UAE lender generated revenues of AED …

Banking and Finance

23 April 2024 02:00 PM ADIB becomes 1st bank to offer integrated financial services via Botim app

Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) inked a partnership with Astra Tech, becoming the first lender to provide users across the country access to financial services on the Botim Ultra app. ADIB and Botim will join forces to develop …

Banking and Finance

3 April 2024 02:40 PM Moody’s upgrades ADIB’s BCA to 'baa3'; affirms long-term issuer ratings

Abu Dhabi – Mubasher: Global rating agency Moody's has upgraded the Baseline Credit Assessment (BCA) and Adjusted BCA of Abu Dhabi Islamic Bank (ADIB) to 'baa3' from 'ba1'. Moody's affirmed ADIB’s local and foreign currency long-term issuer …

Banking and Finance

26 March 2024 02:37 PM ADIB partners with Tesla to bolster EV financing

Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) inked an affiliate partnership agreement to provide financing to Tesla car buyers at affordable profit rates starting at 1.79%. Through ADIB’s electrical car financing programme VOLT, the lender …

Companies Investments

6 March 2024 10:35 AM ADIB names Abdelbary as Acting Group CEO

Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) has appointed Mohamed Abdelbary as its acting Group CEO following the resignation of Nasser Al Awadhi from the same position. Abdelbary joined ADIB in May 2020 as the group CFO from Standard …

Management Decisions

3 March 2024 00:44 PM ADIB to pay AED 2.5bn cash dividends for 2023

Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) obtained the approval of its general assembly to disburse cash dividends of AED 2.59 billion for 2023, according to a press release. ADIB will pay out a dividend of 71 fils per share, marking an …

Cash Dividends

22 February 2024 11:05 AM Emirates NBD-Egypt inks EGP 400m with ADIB’s leasing arm

Cairo – Mubasher: Emirates NBD-Egypt, a subsidiary of DFM-listed Emirates NBD, penned a medium-term loan agreement worth EGP 400 million with Abu Dhabi Islamic Finance (ADIFinance), the leasing arm of Abu Dhabi Islamic Bank (ADIB). In line with …

Banking and Finance

20 February 2024 01:21 PM ADIB launches new payment hub to facilitate cross-border transactions

Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) launched a new payment hub that streamlines banking transfers in collaboration with real-time payment solutions company, ProgressSoft. The new hub will facilitate cross-border services, including …

Banking and Finance

23 January 2024 04:58 PM ADIB’s net profits exceed AED 5.2bn in 2023; dividends unveiled

Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) logged net profits after Zakat and tax valued at AED 5.25 billion in 2023, higher by 45% than AED 3.61 billion in the January-December 2022 period. Revenue hiked by 36% year-on-year (YoY) to AED …

Banking and Finance

10 January 2024 04:57 PM ADIB implements AI-powered tool to elevate productivity, efficiency

Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) started the implementation of an AI-powered tool, GitHub Copilot for Business, which is expected to revolutionise operations within the UAE lender, according to a press release. GitHub Copilot …

Banking and Finance

24 December 2023 00:51 PM TAQA unveils AED 1.6bn joint project; Co-funded by ADIB, CBD

Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA), GS Inima, and Emirates Water and Electricity Company (EWEC), concluded the financial process of AED 1.60 billion ($444 million) low-carbon intensive Shuweihat 4 Reverse Osmosis …

Companies Investments

20 December 2023 03:47 PM ADIB, Aldar close AED 1bn sustainable financing

Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) has arranged AED 1 billion sustainable bilateral facility for Aldar Properties, according to a press release. The financing takes Aldar’s total environmental, social, and corporate governance …

Companies Investments

11 December 2023 08:12 PM ADIB lists world’s 1st USD-denominated Green Sukuk

Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) listed the first USD-denominated green Sukuk in the world on Abu Dhabi Securities Exchange (ADX) on 8 December 2023 and was more than 5 times oversubscribed, according to a press release. The …

Sukuk and Islamic Finance

21 November 2023 01:52 PM ADIB teams up with Visa to reinforce payment solutions in UAE

Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) has joined forces with Visa to secure the new Visa Installments Solution (VIS) for its cardholders across the UAE. The option will enable customers to divide their spending into smaller, equal …

Companies Investments

26 October 2023 00:47 PM ADIB delivers growth in 9M-23 financials; revenues leap 48%

Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) achieved a 53% year-on-year (YoY) hike in net profit to AED 3.75 billion during the first nine months (9M) of 2023, versus AED 2.45 billion. Total operating income widened by 48% to AED 6.69 …

Financial Results