Abu Dhabi Islamic Bank - Egypt (ADIB)

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News

27 September 2022 10:34 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 …

Banking and Finance

4 September 2022 01:12 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 …

Companies Investments

24 August 2022 10:08 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 11:32 AM 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 …

Banking and Finance

15 May 2022 10:44 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 02:47 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 …

Corporate Actions

20 February 2022 10:16 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

30 January 2022 01:05 PM ADIB Egypt’s board approves EGP 2bn capital hike, equity exit from Cairo National

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

Management Decisions

21 November 2021 05:37 PM ADIB Egypt sees sale, purchase of EGP 40.5m equity

Cairo – Mubasher: Emirates International Investments – Egypt has exited its 1.5% equity ownership in Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) on 21 November. The company sold 3 million shares in the bank for an average sale price of EGP 13.5 …

Companies Investments

26 October 2021 03:53 PM ADIB Egypt establishes EGP 10m consumer finance firm

Cairo – Mubasher: Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) announced the establishment of Abu Dhabi Islamic Consumer Finance with an issued and paid-up capital of EGP 10 million.  ADIB Egypt will hold a 98% stake in the new company which will …

Corporate Actions

10 October 2021 10:35 AM ADIB Egypt sees EGP 11.6m block-trading deal

Cairo – Mubasher: Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) witnessed a block-trading deal worth EGP 11.66 million. The transaction included the trading of 664,488 shares, the Egyptian Exchange (EGX) said in a statement on Sunday. In the first …

Trading Activities

5 October 2021 01:07 PM ADIB Egypt sees EGP 34m block-trading deal

Cairo – Mubasher: Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) witnessed a block-trading deal worth EGP 34.155 million.  The transaction involved the trading of 1.940 million shares, the Egyptian Exchange (EGX) said in a statement on Tuesday.  In the …

Company News

18 August 2021 04:18 PM Tycoon Holding acquires 85% of Alexandria National Investment

Cairo – Mubasher: Tycoon Holding acquired 84.98% of Alexandria National Company for Financial Investment in a deal worth EGP 27.75 million. The transaction involved the purchase of 4.440 million shares for EGP 6.25 apiece, Tycoon Securities …

Mergers and Acquisitions

17 August 2021 01:51 PM EGX executes EGP 27.7m MTO on Alexandria National Investment's shares

Cairo – Mubasher: The Egyptian Exchange (EGX) announced the execution of a mandatory tender offer (MTO) on the shares of Alexandria National Company for Financial Investment. A total of 4.440 million shares were sold for a total value of EGP 27.75 …

Mergers and Acquisitions

15 August 2021 04:21 PM Alexandria National Investment's shareholders agree to sell 4.44m shares in MTO

Cairo - Mubasher: The Egyptian Exchange (EGX) announced that 4.440 million shares of Alexandria National Company for Financial Investment have been sold in a mandatory tender offer (MTO). Earlier, Tycoon Holding offered to acquire up to 4.702 …

Mergers and Acquisitions

15 August 2021 11:59 AM ADIB Egypt approves Tycoon's offer to acquire Alexandria National Investment

Cairo – Mubasher: The board of directors of Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) approved the mandatory tender offer (MTO) submitted by Tycoon Holding for the purchase of 90% of the shares of Alexandria National Company for Financial …

Banking and Finance

15 August 2021 11:01 AM ADIB Egypt's H1 profit grows 28%

Cairo – Mubasher: Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) recorded net profits of EGP 680.15 million in the first half (H1) of 2021, a 28% year-on-year (YoY) increase from EGP 530.57 million, including minority shareholders' rights.  The bank's …

Banking and Finance

11 July 2021 00:14 PM ADIB Egypt to set up Sukuk firm

Cairo - Mubasher: The board of directors of Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) approved a decision to proceed with setting up a Sukuk company.  The company will be established with an authorised capital of EGP 100 million and issued capital …

Sukuk and Islamic Finance

20 June 2021 11:39 AM Compass Capital submits offer to acquire Alexandria National Co. for Financial Investment

Cairo - Mubasher: The Egyptian Financial Regulatory Authority (FRA) has received a mandatory tender offer (MTO) from Compass Capital to acquire the shares of Alexandria National Company for Financial Investment. The offer includes the purchase of …

Mergers and Acquisitions

9 June 2021 04:35 PM FRA approves Zeta Investment's MTO for Alexandria National Co. for Financial Investment

Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved the publication of the mandatory tender offer (MTO) submitted by Zeta Investment to acquire a majority stake in Alexandria National Company for Financial Investment. The …

Mergers and Acquisitions

8 June 2021 04:35 PM Alexandria National Co. for Financial Investment receives 90% acquisition offer

Cairo – Mubasher: Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) announced that its subsidiary Alexandria National Company for Financial Investment has received an optional cash acquisition offer from Tycoon Holding. Tycoon Holding offered to acquire …

Mergers and Acquisitions

11 May 2021 11:04 AM ADIB Egypt's profit rises 44% in Q1

Cairo – Mubasher: Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) recorded consolidated net profits of EGP 332.22 million in the first quarter (Q1) of 2021, up by 44.22% year-on-year (YoY) from EGP 230.35 million, including minority shareholders’ …

Banking and Finance

24 March 2021 11:10 AM ADIB Egypt’s shareholders approve authorised capital raise

Cairo – Mubasher: The extraordinary general assembly of Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) approved a decision to increase the bank’s authorised capital to EGP 7 billion from EGP 4 billion. The decision is still subject to the Central Bank …

Corporate Actions

21 February 2021 09:48 AM ADIB Egypt's profit edges down in 2020

Cairo – Mubasher: Abu Dhabi Islamic Bank - Egypt (ADIB Egypt) reported net profits of EGP 1.19 billion in 2020, slightly down by 3% year-on-year (YoY) from EGP 1.22 billion, including minority shareholders’ rights. The lender’s net interest income …

Financial Results

2 February 2021 10:20 AM Alexandria National Co for Financial Investment receives acquisition offer from UAE's company

Cairo – Mubasher: Alexandria National Company for Financial Investment has received an offer from Zeta Investment, an Emirati company, to acquire 90% of the company's capital. The Emirati company has offered a price of EGP 5.51 per share to hold …

Mergers and Acquisitions