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ADIB Egypt considers capital increase – CEO

ADIB Egypt considers capital increase – CEO

Cairo:  Abu Dhabi Islamic Bank - Egypt (ADIB) Egypt is planning to increase its capital during next year, CEO, Mohamed Ali, said during an interview with Sky News Arabia.

The amount of the increase is still under discussion and may reach EGP 5 billion, the top official added.

Ali expected that the bank’s profit will register around EGP 1 billion in 2019, noting that owners’ equity may exceed EGP 5 billion.

ADIB Egypt reported a 74.1% year-on-year profit growth during the first half of 2019, recording EGP 658.6 million. Source: Mubasher

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