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Abu Dhabi / WAM
Abu Dhabi Islamic Bank (Adib) has announced the increase of its ownership in Adib Egypt to more than 52 percent.
In a disclosure to the Abu Dhabi Securities Exchange (ADX) on Thursday, Adib stated that it had acquired 9.6 million shares from National Investment Bank (NIB), representing 2.4% of Adib Egypt’s share capital.
The deal has raised Adib UAE’s ownership in the Egyptian unit to 52.607%.
The bank has recently received the e-Marketplace Champion Award for its excellence in digital adoption from blockchain-powered e-Marketplace TradeAssets.
With TradeAssets platform, the Abu Dhabi-based lender has secured 130 deals with total value of over $128 million till date and 11 banks from Bangladesh.