Latest news with #AbuDhabiIslamicBank
See - Sada Elbalad
7 days ago
- Business
- See - Sada Elbalad
Egyptian Pound Gains Further as Dollar Falls Below EGP 49
Taarek Refaat The Egyptian pound continued its upward trajectory on Wednesday, with the US dollar falling below the symbolic 49-pound mark across major Egyptian banks for the first time in weeks. The move reflects growing confidence in Egypt's foreign currency flows, buoyed by a dramatic surge in workers' remittances and a narrowing current account deficit. According to the Central Bank of Egypt (CBE), the dollar traded at an average of EGP 49.02 for buying and EGP 49.12 for selling in early transactions. The lowest recorded buying rate stood at EGP 48.95, offered by Housing and Development Bank, while the highest selling rate reached EGP 49.32 at Abu Dhabi Islamic Bank. The recent appreciation of the pound, by roughly 20 piasters in just 24 hours, comes on the heels of robust macroeconomic data. Expatriate Egyptians sent home approximately $26.4 billion in the first nine months of fiscal year 2024/25, marking a staggering 82.7% year-on-year increase. Analysts say this inflow has provided a critical cushion for Egypt's foreign reserves and helped stabilize the local currency. At the National Bank of Egypt and Banque Misr, two of the country's largest state-owned lenders, the dollar stood at EGP 49.02 for buying and EGP 49.12 for selling. The Commercial International Bank (CIB) mirrored these rates, indicating a broad-based alignment among top institutions. Bank of Alexandria posted a slightly more favorable rate for buyers at EGP 49.00, while the Housing and Development Bank undercut the market further at EGP 48.95. Meanwhile, the Abu Dhabi Islamic Bank offered the highest rates, with the greenback priced at EGP 49.22 (buying) and EGP 49.32 (selling), likely reflecting stronger demand among its clientele for dollar liquidity. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks
Al Etihad
7 days ago
- Business
- Al Etihad
ADIB reports Dh4 billion pre-tax profit in H1 2025
23 July 2025 17:42 ABU DHABI (WAM)Abu Dhabi Islamic Bank (ADIB) today announced a 16 percent year-on-year increase in pre-tax net profit for the first half of 2025, reaching Dh4 billion, reflecting strong balance sheet growth, continued business momentum, and a rising customer bank delivered another record performance in Q2 2025, with pre-tax net profit up 14 percent year-on-year to Dh2 profit after tax for the first half reached Dh3.5 billion, up 15 percent versus H1 2024. For the second quarter, net profit reached Dh1.8 billion, an increase of 13 percent compared to the same period last income for H1 2025 rose 11 percent to Dh5.9 billion, up from Dh5.3 billion in H1 robust growth was driven by strong performance across all core business segments, supported by diversified income streams and continued expansion of fee-based from funding grew 9 percent year-on-year to Dh3.6 billion in H1 2025, compared to Dh3.3 billion in the previous year, backed by increased business volumes and the bank's ability to generate sustainable returns despite lower market profit profit margin stood at 4.27 percent, within the bank's target range, reflecting volume growth and effective balance sheet income rose 15 percent year-on-year to Dh2.3 billion in H1 2025, up from Dh2 billion in the prior-year growth in non-funding income was largely driven by a 28 percent increase in fee income, attributed to higher product sales across both retail and corporate segments, reflecting stronger customer activity and successful cross-selling income now contributes 39 percent of total operating income, underscoring the bank's continued strategic focus on income cost-to-income ratio improved to 28.2 percent in H1 2025, down 40 basis points from 28.6 percent in H1 2024, driven by higher revenue and ongoing productivity measures. Operating expenses rose 9 percent year-on-year to Dh1.7 billion in H1 2025, reflecting continued investment in talent, digital initiatives and emerging technologies.
Al Etihad
7 days ago
- Business
- Al Etihad
Abu Dhabi Islamic Bank reports Dh4 billion pre-tax profit in H1 2025
23 July 2025 17:46 ABU DHABI (WAM)Abu Dhabi Islamic Bank (ADIB) Wednesday announced a 16 percent year-on-year increase in pre-tax net profit for the first half of 2025, reaching Dh4 billion, reflecting strong balance sheet growth, continued business momentum, and a rising customer bank delivered another record performance in Q2 2025, with pre-tax net profit up 14 percent year-on-year to Dh2 profit after tax for the first half reached Dh3.5 billion, up 15 percent versus H1 2024. For the second quarter, net profit reached Dh1.8 billion, an increase of 13 percent compared to the same period last income for H1 2025 rose 11 percent to Dh5.9 billion, up from Dh5.3 billion in H1 robust growth was driven by strong performance across all core business segments, supported by diversified income streams and continued expansion of fee-based from funding grew 9 percent year-on-year to Dh3.6 billion in H1 2025, compared to Dh3.3 billion in the previous year, backed by increased business volumes and the bank's ability to generate sustainable returns despite lower market profit profit margin stood at 4.27 percent, within the bank's target range, reflecting volume growth and effective balance sheet income rose 15 percent year-on-year to Dh2.3 billion in H1 2025, up from Dh2 billion in the prior-year growth in non-funding income was largely driven by a 28 percent increase in fee income, attributed to higher product sales across both retail and corporate segments, reflecting stronger customer activity and successful cross-selling income now contributes 39 percent of total operating income, underscoring the bank's continued strategic focus on income cost-to-income ratio improved to 28.2 percent in H1 2025, down 40 basis points from 28.6 percent in H1 2024, driven by higher revenue and ongoing productivity measures. Operating expenses rose 9 percent year-on-year to Dh1.7 billion in H1 2025, reflecting continued investment in talent, digital initiatives and emerging technologies.
Zawya
08-07-2025
- Business
- Zawya
DIB arranges landmark $1bln sovereign financing for the Government of Pakistan
Five-year syndicated facility partially guaranteed by an ADB Policy-Based Guarantee DIB acted as Sole Islamic Global Coordinator; DIB and Standard Chartered acted as Joint Mandated Lead Arrangers and Bookrunners; Other financiers include Abu Dhabi Islamic Bank (ADIB) as the Mandated Lead Arranger and Ajman Bank, Sharjah Islamic Bank and HBL as Arrangers. Strong participation from Islamic banks, with Islamic tranche representing 89% of total US$1 billion facility. Dubai, UAE – DIB, the world's first Islamic bank and the largest in the UAE, has announced the successful completion of a landmark US$1 billion syndicated term-finance facility for the Government of Pakistan, arranged in collaboration with a consortium of regional and international financial institutions. The five-year facility is an innovative transaction, partially guaranteed by a Policy-Based Guarantee (PBG) from the Asian Development Bank (ADB) — marking the first PBG transaction of its kind undertaken by ADB for the country. The Islamic tranche, structured as an AAOIFI-compliant Commodity Murabaha, represents approximately 89% of the total facility which reflects the growing demand for Shariah-based financing and supports Pakistan's strategic objective of expanding Islamic finance. DIB acted as the Sole Islamic Global Coordinator and alongside Standard Chartered also served as the Joint Mandated Lead Arranger and Bookrunner. Other leading Islamic banks from the region included Abu Dhabi Islamic Bank, Ajman Bank and Sharjah Islamic Bank. Minister of Finance, Government of Pakistan Mr. Muhammad Aurangzeb, stated that: 'This landmark financing arrangement not only underscores the strong confidence of regional and international financial institutions in Pakistan's economic reform trajectory, but also marks an important step in expanding our access to innovative and Shariah-compliant funding solutions. We deeply value the role of partners like DIB and ADB in supporting our efforts to ensure macroeconomic stability and sustainable growth.' Dr. Adnan Chilwan, Group Chief Executive Officer, DIB, commented: 'This transaction marks a key milestone in demonstrating how Sharia-compliant financing can be scaled effectively to meet sovereign objectives while upholding partnership and prudence. DIB is delighted to have re-introduced Pakistan's credit to the Islamic term financing market after a hiatus of over two years through an innovative structure. We are confident this will pave the way for the Government to access broader pools of Sharia-compliant liquidity in the near future. Developed in close coordination with the Government of Pakistan, the Asian Development Bank, and leading financial institutions, the structure reflects strong alignment between market capabilities and national priorities. It offers a compelling example of how values-driven finance can support tangible, real-economy outcomes. At DIB, we remain committed to enabling such purposeful transactions, ones that serve the present, strengthen resilience, and help shape a more inclusive financial future.' This facility represents a milestone in sovereign Islamic finance, combining the strengths of regional and international institutions under a robust, Shariah-compliant structure. The inclusion of an ADB Policy-Based Guarantee has played a key role in facilitating Pakistan's return to the international commercial market, while reflecting confidence in the country's ongoing fiscal reforms and macroeconomic resilience. For the Government of Pakistan, the transaction marks a strategic re-engagement with Middle East capital markets after more than two years, demonstrating growing investor trust and a renewed appetite for collaboration through ethical and cost-effective financing solutions. For participating institutions, the transaction offers an opportunity to support sustainable economic development across key emerging markets, while advancing the global adoption of Islamic finance practices in sovereign funding. About DIB: Established in 1975, DIB is the largest Islamic bank in the UAE by assets and a public joint stock company listed on the Dubai Financial Market. Spearheading the evolution of the global Islamic finance industry, DIB is also the world's first full service Islamic bank and amongst the largest Islamic banks in the world. With Group assets now exceeding USD95 billion and market capitalisation of more than USD 14bln, the group operates with a workforce of more than 10,000 employees and around 500 branches in its vast global network across the Middle East, Asia and Africa. Serving over 5 million customers across the Group, DIB offers an increasing range of innovative Shariah-compliant products and services to retail, corporate and institutional clients. In addition to being the first and largest Islamic bank in the UAE, DIB has a significant international presence as a torchbearer in promoting Shariah-compliant financial services across a number of markets worldwide. The bank has established DIB Pakistan Limited, a wholly owned subsidiary which is the first Islamic bank in Pakistan to offer Priority & Platinum Banking, The launch of Panin Dubai Syariah Bank in Indonesia early marked DIB's first foray in the Far East, with a stake of nearly 25% stake in the Indonesian bank. Additionally, DIB was given the licence by the Central Bank of Kenya (CBK) to operate its subsidiary, DIB Kenya Ltd. DIB has been designated as D-SIB (Domestic Systemically Important Bank) in UAE. The acquisition of Noor Bank has solidified its position as a leading bank in the global Islamic finance industry. Recently, DIB has successfully acquired minority stake of 25% of T.O.M. Group which provides digital banking services in Türkiye. The bank's ultimate goal is to make Islamic finance the norm, rather than an alternative to conventional banking worldwide. DIB has won a range of accolades that are testament to these efforts across diversified areas, including retail, corporate and investment banking, as well as CSR and consultancy services. DIB has been named the 'Best Islamic Bank' in various prestigious ceremonies marking the bank's leadership position in the Islamic finance sector. As a progressive Islamic financial institution, DIB embraces the opportunities and challenges associated with integrating sustainability into its business by delivering sustainable products and services and by advancing the green and social composition. 2025 marked DIB Golden Jubilee, with a Bold New Vision for the Future to be prepared to meet the challenges ahead and continue building a legacy of success for the years to come. For more information, please visit us at
Zawya
08-07-2025
- Business
- Zawya
IPTs out for Saudi Alinma Bank's $500mln senior sukuk offering
The initial price thoughts for Saudi Alinma Bank's 5-year $500 million WNG senior sukuk offering are in the area of 130 basis points plus Treasuries. The Saudi lender, rated A2 (stable) by Moody's, A- (stable) by S&P and A- (stable) by Fitch, said the Reg S Category 2 Wakala structure will be priced on Tuesday. The expected sukuk is rated A- by S&P and A- by Fitch, with an issue date of 15 July 2025 Proceeds will be used for general banking business, with the issuance to be listed on London Stock Exchange's International Securities Market. Abu Dhabi Islamic Bank, Alinma Capital, Dubai Islamic Bank, Emirates NBD Capital, Goldman Sachs International, JP Morgan and Standard Chartered Bank have been appointed as Joint Lead Managers. The issuance comes under Alinma Sukuk Limited's $500 million Trust Certificate Issuance Programme. (Writing by Bindu Rai, editing by Daniel Luiz)
