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Abu Dhabi Islamic Bank gains on sealing retail deal with Barclays

: Tuesday, September 02 - 2014 @ 16:52

The Abu Dhabi stock market gauge ADXGI closed flat at 5,129.07 points on Tuesday, September 2.

Abu Dhabi Islamic Bank, known and branded as ADIB, advanced 0.30 per cent to hit AED6.81. Earlier in the day, ADBIC said in a filing to the exchange that it formally completed the purchase of Barclays’ retail banking business in the UAE. ADIB paid AED596 million ($162.39m dollar) and will welcome 110,000 former Barclays customers and migrate their accounts to the ADIB retail-banking platform. The financial effects for the biggest Sharia-compliant bank in the UAE capital will be visible in the report for the third quarter 2014

Gérard Al-Fil  

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Tuesday, September 2- 2014 @ 16:52 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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