Abu Dhabi Islamic Bank - Egypt (ADIB)

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News

2 hours ago ADIB Egypt’s consolidated profits hike to EGP 2.1bn in Q1-24

Cairo – Mubasher: The net profits attributable to the owners of Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) surged to EGP 2.11 billion in the first quarter (Q1) of 2024, compared to EGP 1 billion. Net income from funds witnessed a year-on-year …

Banking and Finance

25 March 03:03 PM ADIB Egypt’s shareholders nod to EGP 1bn capital raise

Cairo – Mubasher: The shareholders of Abu Dhabi Islamic Bank–Egypt (ADIB Egypt) greenlighted the board’s proposal to raise the issued and paid-up capital by EGP 1 billion. The increase amount will be distributed over 100 million shares at a …

General Assembly

3 March 10:48 AM ADIB Egypt withdraws acquisition offer of Cairo National for Investment

Cairo – Mubasher: Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) has withdrawn a mandatory tender offer (MTO) to acquire the free float shares of Cairo National for Investment and Securities company. The offer was originally submitted on 14 December …

Companies Investments

15 February 11:02 AM ADIB Egypt’s profits exceed EGP 4.6bn in 2023; capital raise proposed

Cairo – Mubasher: The consolidated net profits after tax of Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) hit EGP 4.67 billion in 2023, higher year-on-year (YoY) than EGP 2.18 billion. The lender generated net income from returns valued at EGP 8.92 …

Management Decisions

1 February 11:21 AM solutions’ unit secures EGP 2.8bn financing deal led by ADIB Egypt

Riyadh – Mubasher: Giza Systems, a subsidiary of Arabian Internet and Telecommunication Services Company (solutions), obtained banking facilities valued at EGP 2.82 billion ($84 billion) on 31 January 2024. Giza Systems and its unit VAS secured …

Banking and Finance

12 November 2023 09:54 AM ADIB Egypt posts jump in 9M-23 results; consolidated profits hit EGP 3.55bn

Cairo – Mubasher: Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) recorded consolidated net profits valued at EGP 3.55 billion in the first nine months (9M) of 2023, an annual leap from EGP 1.58 billion. Net income from funds amounted to EGP 6.24 …

Banking and Finance

14 August 2023 11:25 AM ADIB Egypt registers EGP 2.16bn consolidated profits in H1-23

Cairo – Mubasher: The consolidated net profits after tax of Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) hit EGP 2.16 billion in the first half (H1) of 2023, higher than EGP 1.01 billion a year earlier. The net income from funds enlarged to EGP …

Banking and Finance

18 July 2023 06:05 PM ADIB Egypt signs $50m Murabaha deal with IFC

Cairo – Mubasher: Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) penned the first Shariah-compliant subordinated Tier 2 financing agreement valued at $50 million with the International Finance Corporation (IFC) using the Murabaha system. The …

Banking and Finance

14 May 2023 01:34 PM ADIB Egypt records over 126.5% jump in Q1-23 consolidated net profit

Cairo – Mubasher: Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) achieved a 126.60% leap in consolidated net profit after tax to EGP 1 billion during the first quarter (Q1) of 2023, compared with EGP 444.29 million in Q1-22. The earnings per share …

Banking and Finance

13 February 2023 00:21 PM ADIB Egypt sees 51% higher consolidated profits in 2022

Cairo – Mubasher: Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) generated consolidated net profits after tax worth EGP 2.18 billion in 2022, an annual leap of 51% from EGP 1.45 billion. The interest income enlarged by 37.80% year-on-year (YoY) to EGP …

Banking and Finance

18 January 2023 11:13 AM ADIB Egypt’s issued, paid-up capital raise 93.48% oversubscribed

Cairo – Mubasher: The Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) announced that subscription to its issued and paid-up capital raise was covered by 93.48%.     A total of 93.48 million shares were subscribed during the first phase of subscription, …

Banking and Finance

2 January 2023 04:26 PM UAE's ADIB ups stake in Egypt unit for EGP 155.3m

Cairo – Mubasher: UAE’s Abu Dhabi Islamic Bank (ADIB) has increased its ownership in its ADIB Egypt to 52.60% from 50.20% for EGP 155.32 million. The ADX-listed bank purchased 9.60 million shares in ADIB Egypt at an average price of EGP 16.18 per …

Companies Investments

29 December 2022 00:05 PM ADIB Egypt sees 2 block trading deals worth over EGP 170m

Cairo – Mubasher: The Egyptian Exchange (EGX) announced two block trading deals valued at EGP 170.88 million on the shares of Abu Dhabi Islamic Bank-Egypt (ADIB Egypt). The first transaction was carried out on 9.60 million of the lender’s shares …

Banking and Finance

18 December 2022 10:25 AM NIB sells shares in ADIB Egypt for over EGP 541m

Cairo – Mubasher: The National Investment Bank (NIB) reduced its ownership in Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) to 2.40% from 10% for a total value of EGP 541.12 million. NIB sold 30.40 million shares to Respond Investment at an average …

Mergers and Acquisitions

18 December 2022 09:34 AM ADIB Egypt logs block trading deal worth over EGP 541m

Cairo – Mubasher: The Egyptian Exchange (EGX) announced a block trading deal worth EGP 541.12 million on the shares of Abu Dhabi Islamic Bank-Egypt (ADIB Egypt). The transaction was executed on 30.40 million of the bank’s shares, according to a …

Companies Investments

13 November 2022 01:20 PM ADIB Egypt reports rise in 9M-22 profits

Cairo – Mubasher: Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) registered EGP 1.58 billion in consolidated net profits during the first nine months (9M) of 2022, a year-on-year (YoY) increase from EGP 1.06 billion.     Basic earnings per share (EPS) …

Financial Results

16 October 2022 10:00 AM Holding Company for Pharmaceuticals, ADIB pen EGP 3.4bn financing deals

Cairo - Mubasher: Egypt's Minister of Public Business Sector, Mahmoud Esmat, witnessed on Saturday, 15 October the signing ceremony of financing contracts aimed at developing pharmaceutical companies affiliated to the ministry.  Valued at EGP 3.40 …

Companies Investments

5 October 2022 10:41 AM ADIB Egypt’s OGM greenlights EGP 1bn capital increase

Cairo – Mubasher: The ordinary general meeting (OGM) of Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) approved increasing the bank’s issued and paid-up capital by EGP 1 billion to EGP 5 billion from EGP 4 billion.  The capital hike will be distributed …

Management Decisions

27 September 2022 11:34 AM Elsewedy Electric secures EGP 2bn Islamic loan from 7 banks

Cairo – Mubasher: ADI Capital, the investment banking arm of Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) has successfully arranged combined Islamic financing worth EGP 2 billion for Elsewedy Electric Co's subsidiaries.  ADI Capital acted as the …

Companies Investments

4 September 2022 02:12 PM FRA nods to ADIB Egypt’s capital hike request

Cairo – Mubasher: The Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) has received the Financial Regulatory Authority’s (FRA) approval to proceed with the capital raise procedures.   The FRA agreed to publish the disclosure form submitted by the bank to …

Banking and Finance

24 August 2022 11:08 PM ADIB Egypt partners with SimpliFi to boost e-payments

Cairo – Mubasher: Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) teamed up with SimpliFi, a Cards as a Service (CaaS) platform in MENA and Pakistan, to scale up the digital payments ecosystem in Egypt. The collaboration came in line with the bank’s …

Financial Results

10 August 2022 00:32 PM ADIB Egypt’s profits in H1-22 climb to EGP 1.01bn

Cairo – Mubasher: The consolidated net profits of Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) climbed by 48.4% year-on-year (YoY) in the first half (H1) of 2022, reaching EGP 1.01 billion, including minority shareholders’ rights, according to a …

Financial Results

15 May 2022 11:44 AM ADIB Egypt posts 34% higher unaudited profits in Q1-22

Cairo – Mubasher: The unaudited consolidated net profits of Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) jumped by 33.7% year-on-year (YoY) to EGP 444.29 million in the first quarter (Q1) of 2022 from EGP 332.22 million. The bank's net interest …

Banking and Finance

27 March 2022 03:47 PM ADIB Egypt’s shareholders approve EGP 2bn capital hike

Cairo – Mubasher: The shareholders of Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) have approved an EGP 2 billion increase in the paid-up and issued capital to EGP 4 billion from EGP 2 billion. The capital raise will be distributed over 200 million …

Management Decisions

20 February 2022 11:16 AM ADIB Egypt posts 21% higher consolidated profits in 2021

Cairo – Mubasher: The consolidated net profits of Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) jumped by 21% year-on-year (YoY) to EGP 1.45 billion in 2021, compared to EGP 1.19 billion. The bank's net interest income amounted to EGP 3.6 billion in …

Banking and Finance