The Abu Dhabi Islamic Bank (ADIB) provides Islamic commercial banking, asset management, investment banking, real estate and private equity investment.

ADIB was the UAE’s second largest Islamic bank, in 2008, in terms of total assets reaching AED51.2 billion (USD14 billion) and in terms of net profits of AED851million (USD231.8 million); it ranked 12th among all UAE commercial banks, in terms of total assets. ADIB’s major shareholders include the Emirates International Investment CompanyEmirates International Investment Company and the Abu Dhabi Investment CouncilAbu Dhabi Investment Council.

The bank focused primarily on commercial banking, in 2007, to which it contributed AED1.86 billion (USD506.5 million), or 65% of its operating income. In 2008, the bank reorganized its business segments into commercial banking, private banking, capital markets and real estate. The bank’s total 2008 revenues reached AED3.04 billion (USD829 million), of which, commercial banking contributed 64%, growing annually by 6% to AED2.57 billion (USD700 million); private banking contributed 10%; capital markets, 15% and real estate, 10%.

ADIB was listed on the Abu Dhabi Stock Exchange, in November 2000 and has presence in the UAE, Egypt and Bosnia-Herzegovina. Its annual income from international investments dropped by 49% to AED426 million (USD116 million), in 2008, while annual domestic income increased by 28% to AED2.6 billion (USD786 million).

The bank plans to begin expansion of its network of branches and ATM’s, in the UAE, by the end of 2009.