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ADIB appoints Mohamed Aly as CEO, MD of ADIB Egypt

Abu Dhabi Islamic Bank (ADIB) has appointed Mohamed Aly as CEO of ADIB Egypt. Mohamed has over 30 years of international experience in the financial services and banking industry, having held senior leadership roles at several banks in the MENA region. Prior to joining ADIB, Mohamed was the CEO at Mashreq Bank’s Egypt business. Commenting …

Daily News Egypt

Pharos Research upgrades ADIB Egypt FV to EGP 24

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 developments, including “a forecasted strengthening momentum in lending activity with a compound annual growth rate (CAGR) of 16% over …

Daily News Egypt

Barclays to sell UAE retail ops to Abu Dhabi Islamic Bank for $177m

Reuters – Barclays has agreed to sell its retail banking operations in the United Arab Emirates to Abu Dhabi Islamic Bank (ADIB) for an expected price of AED 650m ($177m), ADIB said on Sunday. The emirate’s largest Islamic bank said it aimed to acquire 110,000 customers through the deal, helping it expand into serving expatriates, …

Daily News Egypt

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