Abu Dhabi’s Al Hilal Bank ‘may’ increase capital
03/04/2014 1:41 am EDT

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Al Hilal Bank has said it is considering increasing its capital in 214 to support growth of its operations, Reuters has reported. The Abu Dhabi government-owned Islamic lender plans to expand its retail and wholesale banking business locally and internationally over the next five years. “There might be a need to raise capital this year. We have a strong shareholder supporting us, and there is also a market to raise capital,” chief executive, Mohamed Jamil Berro, told the news service. Asked about the possibility of an initial public offer of shares to raise capital, he said the decision lay with shareholders.

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