Abu Dhabi Islamic Bank - Egypt (ADIB)

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News

19 February 2019 00:06 PM ADIB Egypt’s FY18 profit jumps 35%

Cairo – Mubasher: Abu Dhabi Islamic Bank Egypt (ADIB) on Tuesday reported a 35% year-on-year increase in consolidated profits for 2018. ADIB achieved a profit of EGP 850.23 million from January to December 2018, compared to a net profit of EGP …

Financial Results

16 January 2019 09:21 PM Pharos Research sets FV of 10 EGX-listed banks

Cairo – Mubasher: Pharos Research has set the fair value (FV) of 10 banks listed in the Egyptian Exchange (EGX). The FV of Commercial International Bank (CIB) was set at EGP 90 per share, with equal weight recommendation, according to Pharos’ …

Trading Activities

8 November 2018 11:25 AM ADIB Egypt’s profits rise to EGP 632m in 9M

Cairo – Mubasher: The consolidated financial statements of Abu Dhabi Islamic Bank Egypt (ADIB) showed a 26% year-on-year increase in profits during the first nine months of 2018. ADIB logged EGP 632.19 million ($35.26 million) from January to …

Financial Results

14 May 2018 01:37 PM ADIB Egypt Q1 profit hikes 113%

Cairo – Mubasher: The financial indicators of Abu Dhabi Islamic Bank Egypt (ADIB) has shown a 113% year-on-year surge in consolidated profits for the first quarter of 2018. Net profit jumped to EGP 156.7 million in the three-month period ended …

Banking and Finance

26 April 2018 06:04 PM Pharos upgrades ADIB FV to EGP29/shr

Cairo - Mubasher: Pharos has upgraded its fair value evaluation (FV) of Abu Dhabi Islamic Bank (ADIB) to EGP 29 per share, according to a recent report. The upgrade reflects the current valuation of the bank excluding any plans for a rights issue, …

Ratings

25 February 2018 09:57 AM ADIB to consider FY17 proposed dividends late March

Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) will hold its ordinary general meeting (OGM) on Wednesday, 21 March, to discuss the board’s recommendation of distributing 28.87% of par value as dividends for fiscal year 2017. ADIB’s board …

Cash Dividends

11 February 2018 00:45 PM ADIB Egypt allocates EGP 190m risk reserve

Cairo – Mubasher: Abu Dhabi Islamic Bank - Egypt (ADIB) on Sunday said that it has earmarked a risk reserve of about EGP 190 million in accordance with the Central Bank of Egypt’s (CBE) instructions. The reserve accounts for about 1% of total …

Corporate Actions

14 January 2018 03:42 PM Pharos upgrades ADIB Egypt FV to EGP 19.5/shr

Cairo – Mubasher: Pharos Research has raised their fair value (FV) for Abu Dhabi Islamic Bank – Egypt (ADIB) to EGP 19.50 per share, with an Overweight recommendation, according to a recent report on Sunday. “Despite ADIB UAE unwillingness to …

Stock Evaluations

22 October 2017 05:00 PM ADIB sees 13% profit rise in 9M

Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) on Sunday announced a 13% year-on-year increase in the group’s net profits for the first nine months of 2017. The ADIB’s group’s net profit grew to AED 1.693 billion ($460 million) between …

Financial Results

24 September 2017 04:16 PM Pharos Research upgrades ADIB Egypt FV to EGP 24; maintains “Overweight”

Cairo – Mubasher: Pharos Research has upgraded its fair value (FV) of Abu Dhabi Islamic Bank - Egypt (ADIB) to EGP 24, with an "Overweight" recommendation, according to a recent report. The FV upgrade came on the back of several positive …

Stock Evaluations

9 August 2017 01:08 PM ADIB H1 profits soar 78%

Cairo – Mubasher: Abu Dhabi Islamic Bank - Egypt (ADIB) reported a 78% year-on-year hike in profits for the first half of 2017 due to Murabaha proceeds, according to a bourse filing on Wednesday. The bank achieved profits of EGP 338.9 million in …

Financial Results

8 July 2017 11:02 AM ADIB launches 2nd tranche of healthcare note

Abu Dhabi - Mubasher: Abu Dhabi Islamic Bank (ADIB) has launched a second tranche of its Healthcare Pharmaceuticals Equities Basket Note following, according to a press release. The bank said in a statement on Saturday that the moves comes due to …

Sukuk and Islamic Finance

5 July 2017 09:14 PM ADIB - Egypt lifts QAR from its currencies

Cairo - Mubasher: Abu Dhabi Islamic Bank (ADIB) - Egypt has removed the Qatari Riyal from its exchange rates screen, as shown by the bank’s website. The QAR registered EGP 4.64 for selling and EGP 4.93 for buying in the bank’s trade on Tuesday. …

Currencies Global Indices

9 May 2017 00:31 PM ADIB Egypt Q1 consolidated profit falls 38%

Cairo – Mubasher: Abu Dhabi Islamic Bank – Egypt’s (ADIB Egypt) consolidated net profit for the first quarter of fiscal year 2017 declined 38.4% year-on-year. Consolidated net profit reached EGP 73.74 million in Q1-17, compared to EGP 119.8 …

Financial Results

1 May 2017 11:23 AM ADIB launches 12M healthcare, pharmaceutical note

Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) on Monday announced launching a new Healthcare Pharmaceuticals Equities Basket Note. The new Shariah-compliant note is designed to capitalise on the forecasted growth of the healthcare industry, …

Banking and Finance

26 April 2017 00:34 PM ADIB cuts stake in National Maize Products to 4.11%

Cairo – Mubasher: Pharos Holding for Financial Investments said Wednesday that Abu Dhabi Islamic Bank – Egypt (ADIB) has lowered its stake in National Company for Maize Products from 5.026% to 4.115%. ADIB has sold 267,500 shares for EGP 11.17 …

Insider Trading & Treasury Stocks

19 April 2017 11:34 AM NIB cuts stake in ADIB Egypt to 11.86%

Cairo – Mubasher: Cairo Capital Securities said Wednesday that National Investment Bank (NIB) has reduced its ownership in Abu Dhabi Islamic Bank – Egypt (ADIB) from 12.13% to 11.86%. NIB has sold 550,000 shares form EGP 6.03 million, at a price …

Insider Trading & Treasury Stocks

28 February 2017 10:54 AM ADIB Egypt standalone profits up 110% in Q4

Cairo – Mubasher: Abu Dhabi Islamic Bank – Egypt (ADIB) posted on Tuesday an increase of 109.7% in its standalone profits for the fourth quarter of 2016 to EGP 97.07 million, versus EGP 46.28 million for Q4-15. Standalone profits for fiscal year …

Financial Results

19 February 2017 01:43 PM ADIB Egypt Q4 profits soar 66.14%

Mubasher: The unaudited financial statements of Abu Dhabi Islamic Bank – Egypt (ADIB) reported a growth of 66.14% in profits during the fourth quarter of 2016 as compared to the same period of 2015. Earnings increased to EGP 124.96 million in …

Financial Results

19 February 2017 11:43 AM EGX suspends trading on 3 stocks

Cairo – Mubasher: The Egyptian Exchange’s (EGX) board on Sunday decided to suspend all trading in terms of offers and orders on three companies’ stocks, which have not yet released their financial statements for the period which ended on 31 …

Markets Regulations

7 February 2017 05:07 PM Banque Misr assigns ADIB to provide $150m

By: Islam Fadl Cairo - Mubasher: The vice chairman of Banque Misr, Akef El Maghraby, said that the bank has delegated Abu Dhabi Islamic Bank (ADIB) to fund a joint Islamic finance with a total value of $150 million to enhance the bank’s dollar …

Macroeconomics

27 November 2016 06:16 PM ADIB Egypt appoints new CEO

Cairo – Mubasher: Abu Dhabi Islamic Bank (ADIB) announced on Sunday appointing a new chief executive officer for its board. Zuhair Hamada Idris was assigned as acting chief executive officer of the bank to replace Nevine Lotfy, while Fareed Farouk …

Corporate Actions

24 November 2016 05:38 PM ADIB – Egypt stock slides 6.5% after news of CEO death

Cairo – Mubasher: The stocks of Abu Dhabi Islamic Bank – Egypt (ADIB) went down by 6.5% after news of the death of the bank’s CEO, Nevine Loutfy. Egyptian police arrested on Wednesday the suspected killer of Abu Dhabi Islamic Bank (ADIB) CEO …

Trading Activities

22 November 2016 03:02 PM Abu Dhabi Islamic Egypt CEO passed away

Cairo – Mubasher: Abu Dhabi Islamic Egypt announced the death of its chief executive Nevine Lotfy. The Egyptian Exchange decided to halt trading in the shares of the bank for 10 minutes, with the suspension of all bids and offers registered on the …

Crimes and Accidents

8 November 2016 00:54 PM ADIB-Egypt posts stronger Q3 profits

Cairo – Mubasher: Egypt-based Abu Dhabi Islamic Bank (ADIB) achieved EGP 81.3 million consolidated profits for the first three months of 2016, higher 218.8% year-on-year from EGP 25.5 million, according to a bourse filing. Over the first nine …

Financial Results