ADIB-Egypt sees changes in shareholding structure

Abu Dhabi-based company Awsar exited the bank by selling its 0.58% stake

  
Abu Dhabi Islamic Bank (ADIB) UK, a wholly-owned subsidiary of Abu Dhabi Islamic Bank. Image for illustrative purposes.

Abu Dhabi Islamic Bank (ADIB) UK, a wholly-owned subsidiary of Abu Dhabi Islamic Bank. Image for illustrative purposes.

ADIB/Handout via Thomson Reuters Zawya

ArabFinance: Abu Dhabi Islamic Bank- Egypt (ADIB) stated that Abu Dhabi-based company Awsar exited the bank by selling its 0.58% stake, according to the bank’s September 27th statement filed to the Egyptian Exchange.

Awsar sold 1,142,585 shares at EGP 10.80 per each, with a total amount of EGP 12,342,866.

The bank posted a consolidated net profit stood at EGP 530.573 million in the first half (H1) of 2020, a 19% decline from EGP 658.558 million achieved in H1 2019.

Standalone net profit reached EGP 509.582 million in H1, a 15% decline from EGP 601.213 million posted in H1 of 2019.

ADIB, formerly National Bank for Development, is an Egypt-based public shareholding company engaged in the provision of retail, corporate and investment banking services through a network of 69 branches located across Egypt.

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