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.

Copyright © 2020 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.