ADIB names Abdelbary as Acting Group CEO

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Abu Dhabi – Abu Dhabi Islamic Bank (ADIB) has appointed Mohamed Abdelbary as its acting Group CEO following the resignation of Nasser Al Awadhi from the same position.

Abdelbary joined ADIB in May 2020 as the group CFO from Standard Chartered Bank Middle East, where he held several positions, including the bank’s regional CFO in Africa and the Middle East.

He also served as the Head of Business Finance in the UAE and the Middle East as well as the Head of the Finance Department, according to a press release.

The new official has experience spanning over 27 years, where he worked at international banks including Citibank and Barclays Bank.

ADIB provides its services to over 1,200,000 customers within a network of 60 branches and more than 500 ATMs, in addition to a digital infrastructure that allows clients to easily access their banking services.

Earlier this month, the lender’s general assembly approved cash dividends valued at AED 2.59 billion for 2023, representing 49% of the year’s net profits.

In the January-December 2023 period, the ADX-listed bank posted an annual leap of 45% in net profit to AED 5.25 billion, compared to AED 3.61 billion.